TVS Motor invests $95,00,000 in OEM start-up Ion Mobility

Published - February 02, 2023 09:59 pm IST

Sudarshan Venu

Sudarshan Venu | Photo Credit: By arrangement

TVS Motor (Singapore) Pte. Ltd., a wholly owned subsidiary of TVS Motor Company, has made a strategic investment of $95,00,000 in Ion Mobility, a tech and automotive OEM start-up, to further its commitment towards electrification.

The investment will enable TVSMC to drive the premium electric ecosystem in South-east Asia. The deal is expected to be completed in 30 days, TVS Motor said in a regulatory filing.

TVSM 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. Ion operates in Indonesia, China and Singapore.

Ion Mobility is 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, said Sudarshan Venu, MD, TVSM

“We share a common vision and are eager to support them as a strategic investor,” he added.

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