In line with its shared commitment towards electrification in the automobile industry, TVS Motor Company has announced its association with ION Mobility and entered into an investment agreement to provide ION with the necessary ecosystem support to succeed in the electric two-wheeler markets of Singapore and Indonesia.
The move also reiterates the company’s strategy to expand its global presence. Interestingly, TVS Motors is also an investor in the home-grown electric two-wheeler start-up Ultraviolette.
Sudarshan Venu, Managing Director, TVS Motor Company, noted that the OEM is eager to support ION as a strategic investor.
He 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.”
James Chan, Founder and CEO, ION Mobility, added, “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 Motors' 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.”
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