TVS Motor Integrates ION Mobility to Boost EV Play in Southeast Asia

5 Apr 2025 , 12:23 AM

TVS Motor Company (TVSM) announced the takeover of Singapore-based electric vehicle (EV) startup ION Mobility into its fold. This move is a strategic expansion of TVSM’s electric two-wheeler presence in Southeast Asia, where two-wheeler demand remains high.

TVSM will take over ION Mobility’s assets, intellectual property (IP), and essential team members as part of the integration. The press release is based on TVSM’s existing relationship with ION Mobility, in which it had previously invested as a strategic partner.

ION Mobility has experience in end-to-end EV innovation across industrial design, mechanical and electrical engineering, software development, and supply chain operations.

In a filing for exchange, TVS Motor Company President of Group Strategy Sharad Mohan Mishra stated that the step is in line with the company’s “Reimagine 2030” vision and ION’s mission of promoting sustainable mobility in the region.

Mishra pointed out that TVSM’s strong R&D capabilities, high-quality systems, and large-scale manufacturing setups will be major enablers in upscaling this partnership.

With this integration, TVSM hopes to increase its market penetration and drive growth in the electric two-wheeler business in Southeast Asia. The region offers strong growth prospects, and this transaction places TVSM in a position to take advantage of growing EV demand in major ASEAN markets.