TVS Motor Company (TVSM), a leading two and three-wheeler maker, has announced the integration of Singapore-based ION Mobility’s assets, intellectual property, and core talent into its operations as what it calls a strategic move to bolster its electric vehicle (EV) footprint in South-East Asia.
The region, known for its booming motorbike market, presents a significant opportunity for growth in the EV sector, the company said in a statement.
TVS Motor had previously been a strategic investor in ION Mobility, a full-stack EV company engaged in industrial design, mechanical and electrical engineering, software, and supply chain solutions.
“By integrating ION Mobility’s assets, IP, and team into TVSM, we are leveraging their entrepreneurial spirit and engineering excellence with our R&D expertise and manufacturing scale. This positions us for deeper market penetration and stronger growth in South-East Asia,” said Sharad Mohan Mishra, President of Group Strategy at TVS Motor Company.
Earlier this week, TVS Motor Company’s wholly owned subsidiary, TVS Motor (Singapore) Pte Ltd, completed the acquisition of select assets from ION Mobility while divesting its previous stake in the company. Following this transition, ION Mobility’s Founder and CEO, James Chan, has joined TVS Motor Company as Senior Vice President.
Chan will lead TVSM’s ASEAN business and oversee the development and launch of the M1-S electric mobility platform. The M1-S has already generated significant interest in ASEAN markets, it said.
Published on April 4, 2025
