TVS Motor Company has announced an investment in Singapore-based startup Ion Mobility to expand the electrification space. The Indian two-wheeler giant invested an undisclosed amount in the startup and will help Ion Mobility build the necessary ecosystem to succeed in the electric two-wheeler markets in Singapore and Indonesia.
TVS said it wanted to associate itself with sustainable and scalable brands, a move that is part of the company’s strategy to expand its global presence. Founded in 2019, Ion Mobility is a technology automotive company that aims to manufacture electric two-wheelers and energy storage products to meet the needs of the Southeast Asian market.
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Commenting on the investment, Sudarshan Venu, MD, TVS Motor Company said, “TVS Motor is committed to developing exciting products for consumers in the global market. We are delighted to partner with ION Mobility, a full-stack electric vehicle The company, has a strong team of engineers and technology base in Singapore to drive the development of high-end electric two-wheelers in the region. We share a common vision and are eager to support them as a strategic investor.”
James Chan, Founder and CEO of Ion Mobility, said: “I am delighted that my team and I have received a vote of confidence from TVS Motor through financing and partnership. We are excited to leverage TVS Motor’s decades of experience in two-wheelers.” global expertise to accelerate our ‘Mobius’ M1-S production readiness, as well as the design and development of other models. We look forward to leading the way in electric and together building a sustainable two-wheeler future.”
Ion Mobility’s current product portfolio includes the Mobius MS-1 electric scooter. This maxi-style electric scooter is powered by 12.5 kW (16.7 bhp) and 43 Nm of torque. The electric scooter is equipped with a 3.5-5.5 kWh battery pack and can travel 150 kilometers on a single charge. The model can do the 0-50 km/h sprint in 3.7 seconds and reach a top speed of 105 km/h.
The Ion Mobius also comes with a 7-inch TFT screen, keyless start, LED DRL, 26 liters of under-seat storage and large 14-inch alloy wheels. Expect learning from both parties to be part of the investment and also help TVS find new markets for current and future electric products.
First published date: Feb 3, 2023 at 09:52 AM CST
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