TVS invests in Singapore-based ION Mobility
TVS Motor Company has announced its association with Singapore-based electric motorcycle start-up ION Mobility (ION). The two-wheeler manufacturer has entered into an investment agreement with ION to provide the requisite ecosystem support to be successful in electric two-wheeler markets, such as Singapore and Indonesia.
The statement issued by TVS Motor Corporation said that this partnership is in line with its commitment to build an aspirational product portfolio while associating with sustainable and scalable brands. It also reiterates TVS Motor Corporation's strategy to expand its global presence.
ION's portfolio consists of the M1-S maxi-style scooter that promises a range of 150km. The highlights of the electric scooter include a seven-inch colour display, keyless operations, and 26 litres of under-seat storage, among others. Battery pack options range from 3.5kWh to 5.5kWh, while an electric motor produces 12.5kW and 43Nm of torque. Interestingly, the charging time for the M1-S is claimed to be two hours for 0-80 per cent.
TVS Motor Company, on the other hand, retails the iQube electric scooter in India with a claimed range of 145km. The scooter has a top speed of 82kmph. It takes about five hours to charge the battery from 0-80 per cent.
Commenting on the occasion, 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 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."
"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," said, James Chan, Founder and CEO, ION Mobility.