ION Mobility Receives Investments from TVS Motors: Future Plans

To promote its dedication to electrification in the automotive market, TVS Motor Company invested in ION Mobility. The funding will assist ION in dominating premium e2Ws. Ion has operations in China, Indonesia, and Singapore. TVS is dedicated to growing its worldwide footprint by collaborating with scalable and sustainable businesses to provide a portfolio of aspirational products.

Ion Mobility welcomes TVS as a strategic investor. It will be supplying assistance and contributing to its future expansion and development. Both parties are anticipated to gain much from the arrangement between the two businesses.

In order to aid Ion Mobility’s expansion into the e-mobility market, TVS Motor is utilizing its experience and knowledge in the automotive sector. The investment demonstrates TVS Motor’s commitment to advancing eco-friendly transportation options and its confidence in the future potential of EVS. As a result, sales of TVS iQube electric scooters in India have reportedly increased significantly in recent months.

Investment Agreement between ION Mobility and TVS Motor Company

Ion Mobility and TVS Motor (Singapore) Pte. Ltd. has engaged in an investment agreement. TVS Motor (Singapore) Pte. Ltd. is a fully owned subsidiary of TVS Motor Company Limited. With a total investment of $9,500,000, the corporation will subscribe to 3,144,198 Series AA Shares in Ion Mobility.

The investment is anticipated to be finished within 30 days of the agreement’s date. TVS Motor (Singapore) Pte. Ltd. has a paid-up share capital of S$400,000, consisting of 5,150,000 Ordinary Shares, and US$6,779,468.77, consisting of 2,877,328 Preference Shares. For the fiscal years 2019–2020, 2020–21, and 2021–2022, ION Mobility’s consolidated revenue were NIL, USD 3,017, and NIL, respectively. It was established in 2019.

ION Mobility EV – Ion Mobius M1-S scooter

In Southeast Asia, where there are more than 200 million gasoline-powered motorcycles, more than 80% of households are in Indonesia, Malaysia, Thailand, and Vietnam. This has a harmful effect on the ecology and urban air quality. Therefore, electric bikes initially appear to be a more appealing choice.

With ION Mobius, ION Mobility succeeded in fulfilling its promise to offer an alternative. ION Mobility is focusing on team expansion and growing operations with the goal of guiding the region’s switch from gasoline to electric. The strategic investment made by TVS Motor will support Ion Mobius M1-S production readiness and promote the creation of new models. With this investment, Ion Mobility’s cutting-edge EV technology and TVS Motor’s competence in mass production are combined.

TVS Motor Company and ION Mobility Comments on This New Advancement 

Sudarshan Venu, Managing Director of 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 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.”

ION Mobility Founder and CEO Mr James Chan 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.”

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