TVS Motor Company, one of the leading two-wheeler and three-wheeler manufacturers in the world, announced its association with ION Mobility, a tech and automotive OEM startup based in Singapore.
At 2n.d February 2023, TVS announced that it had entered into an investment agreement to provide ION with the necessary ecosystem support to succeed in the Singapore and Indonesia electric two-wheeler markets. The investment will enable TVS to operate the premium electric ecosystem in Southeast Asia. The deal is expected to be completed within 30 days, TVS Motor Co. said in a regulatory filing.
This partnership is in line with TVS Motor Company’s commitment to build an aspirational product portfolio while being associated with sustainable and scalable brands, thereby reiterating the company’s strategy to expand its global presence. .
Speaking on the occasion Mr. Sudarshan Venu, Managing Director, TVS Motor Company said, “TVS Motor is committed to creating exciting products for consumers in global markets. We are developing a full-stack EV with a strong team of engineers and technical base in Singapore to drive the growth of premium electric two-wheelers in the region. The company is delighted to partner with ION Mobility. We share a common vision and are keen to support them as a strategic investor.
Founder and CEO of ION Mobility, Mr. James ChanHe said, “I am very happy with the vote of confidence that my team and I have received through the funding round and partnership with TVS Motor. We are ready for production of our ‘Mobius’ M1-S.” We are excited to tap into TVS Motor’s decades of global expertise in two-wheelers to accelerate the design and development of other models. We look forward to leading the charge towards the future of electric and sustainable two-wheelers together.
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