TVS invests in Singapore-based electric two-wheeler maker Ion Mobility
TVS Motor Company has announced an investment in Singapore-based start-up Ion Mobility as it expands in electrification. The Indian two-wheeler giant has invested an undisclosed amount in the start-up and will help Ion Mobility to create the necessary ecosystem to be successful in the electric two-wheeler markets of Singapore and Indonesia.
TVS says it wants to associate itself with sustainable and scalable brands and the move is a part of the company’s strategy to expand its global presence. Founded in 2019, Ion Mobility is a tech-automotive company that aims to build electric two-wheelers and energy storage products, addressing the needs of the South-East Asian markets.
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Speaking on the investment, Sudarshan Venu, MD, 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 a 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."
James Chan, Founder and CEO - Ion Mobility, 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."
Ion Mobility currently has the Mobius MS-1 electric scooter in its portfolio. The maxi-styled electric scooter is powered by a 12.5 kW (16.7 bhp) and 43 Nm of torque. The e-scooter comes with battery packs varying from 3.5-5.5 kWh promising a range of 150 km on a single charge. The model can sprint from 0-50 kmph in 3.7 seconds and a top speed of 105 kmph.
The Ion Mobius also comes with a 7-inch TFT screen, keyless start, LED DRLs, 26 litres of under-seat storage and large 14-inch alloy wheels. Expect learning on both sides as part of the investment, while also helping TVS find new markets for current and future electric offerings.