Singapore, February 2, 2023 – In line with its shared commitment towards electrification in the automobile industry, TVS Motor Company, one of the leading global manufacturers of two-wheelers and three-wheelers, announced its association with ION Mobility (ION) today. TVS Motor 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.
The partnership is in line with
TVS Motor Company’s commitment to build an aspirational product portfolio while
associating with sustainable and scalable brands. It also reiterates 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 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,
Mr. 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.”