TVS Motor invests Rs.95 crore in OEM startup Ion Mobility
TVS Motor (Singapore) Pte. Ltd. A wholly owned subsidiary of TVS Motor Company Ltd. makes a $95 million strategic investment in technology and automotive OEM start-up Ion Mobility to advance its electrification initiatives.
In line with their shared commitment to electrifying the automotive industry, TVS Motor Company has announced a collaboration with Ion Mobility (ION). TVS Motor has signed an investment agreement aimed at providing Aeon with the ecosystem support it needs to succeed in the electric two-wheeler market in Singapore and Indonesia.
This partnership is consistent with TVS Motor Company’s commitment to building an ambitious product portfolio in collaboration with sustainable and scalable brands. It also strengthens the company’s strategy of expanding its global footprint.
On the occasion, Shri Sudarshan Venu, general manager of TVS Motor Company, said that TVS Motor is committed to developing exciting products for customers in the global market. We are pleased to partner with ION Mobility, a full-stack EV company with a strong engineering team and technology base in Singapore, to drive the growth of premium electric two-wheelers in the region. We share a common vision and strive to support them as strategic investors.
James Chan, Founder, and CEO of Aeon Mobility said: We are pleased to leverage TVS Motor’s decades of global motorcycle expertise to accelerate the design and development of the production-ready “Mobius” M1-S and other models. Together we want to lead the future of electric and sustainable two-wheelers.
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