TVS Motor Company has announced an investment in Singapore-based startup Ion Mobility as it expands into electrification. The Indian two-wheeler giant has invested an undisclosed amount in the startup and will help Ion Mobility create the ecosystem needed to succeed in the Singapore and Indonesia electric two-wheeler market. .
TVS says it wants to associate with sustainable and scalable brands, and the move is part of the company’s strategy to expand its global presence. Founded in 2019, Ion Mobility is an automotive technology company that aims to build electric two-wheelers and energy storage products that meet the needs of the Southeast Asian market.
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Speaking about the investment, Sudarshan Venu, MD, TVS Motor Company, said: “TVS Motor is committed to developing exciting products for consumers in global markets. We are delighted to partner with ION Mobility, a comprehensive EV company with a strong engineering team and engineering base in Singapore, to accelerate the growth of premium electric two-wheelers in the region. . We share a common vision and look forward to supporting them as a strategic investor.”
James Chan, Founder and CEO – Ion Mobility, said: “I am delighted with the trust my team and I have received from TVS Motor through the funding round and the partnership. We are delighted to use TVS Motor’s decades of global expertise in two-wheelers to accelerate production readiness of our M1-S “Mobius”, as well as design and develop the other car models. We look forward to leading the trend towards an electric vehicle & a sustainable two-wheeler future together.”
Ion Mobility currently has the Mobius MS-1 electric scooter in its portfolio. The maxi-style electric scooter is equipped with a capacity of 12.5 hp (16.7 hp) and 43 Nm of torque. The e-scooter comes with battery packs varying from 3.5-5.5 kWh that promise to provide a range of 150 km on a single charge. This model can accelerate from 0-50 km/h in 3.7 seconds and has a top speed of 105 km/h.
The Ion Mobius also comes with a 7-inch TFT display, keyless entry, LED daytime running lights, 26-litre under-seat storage, and large 14-inch alloy wheels. Expect to learn from both sides as part of the investment, while helping TVS find new markets for current and future electricity services.
Date of first publication: February 3, 2023, 09:52 AM IST
