TVS Motor invests in Ion Mobility, to help drive EV growth in Singapore, Indonesia

Ion Mobility is a full-stack EV company with a strong team of engineers and technical base in Singapore.

Autocar Pro News Desk By Autocar Pro News Desk calendar 02 Feb 2023 Views icon6838 Views Share - Share to Facebook Share to Twitter Share to LinkedIn Share to Whatsapp

TVS Motor Company, in a strategic move to expand its global footprint, has announced its association with Singapore-based tech company Ion Mobility.

The Chennai-based two- and three-wheeler manufacturer has entered into an investment agreement with an aim to provide Ion the necessary ecosystem support to be successful in the electric two-wheeler markets of Singapore and Indonesia.

Sudarshan Venu, Managing Director, TVS Motor Company said, “TVS Motor is committed to developing exciting products for consumers across global markets. "We are thrilled to partner with Ion Mobility, a full-stack EV company with a strong team of engineers and technical base in Singapore, to drive the premium electric two-wheeler growth in the region. We share a common vision and are eager to support them as a strategic investor.”

Ion Mobility founder and CEO, James Chan said, “I am delighted with the vote of confidence that my team and I have received from TVS Motor via the funding round and partnership. We are excited to draw upon TVS Motor’s decades of global expertise in two-wheelers to accelerate our ‘Mobius’ M1-S production readiness, as well as the design and development of other models. We look forward to leading the charge towards an electric & sustainable two-wheeler future together.”

Ion Mobility's M1-S

Ion Mobility, a tech and automotive OEM on a mission to create and deliver aspirational and sustainable mobility and energy solutions for everyone, had unveiled its first battery-powered electric two-wheeler – the Ion M1-S – on December 2, 2021.

Ion Mobility’s aim is to be Southeast Asia’s top technology company leading the region’s transition towards a low-carbon economy, starting with the Ion M1-S.

The Ion M1-S was born of the need to provide a sustainable urban solution and was developed by a dedicated team of designers, engineers, and technologists across three countries, despite the challenges posed by the pandemic.

The Southeast Asian region is home to over 200 million petrol-powered two-wheelers and 80% of households in Indonesia, Malaysia, Thailand and Vietnam own motorcycles. However, the widespread use of petrol-powered internal combustion engine motorbikes continues to put a burden on urban air quality and the environment, which makes electric motorbikes a much more attractive alternative. Research suggests that the global market for electric two- and three-wheelers is estimated to be around US$150 billion by end-2022.

ALSO READ: TVS Motor targets sale of 100,000 iQubes in FY2023, plots series of new EVs by mid-2024

All Ion M1-S images: courtesy Ion Mobility

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