TVS recently began its operations in Singapore, retailing the entire Apache line-up from its showroom there. Now, it has partnered with a Singapore-based two-wheeler EV manufacturer, Ion Mobility.
The TVS iQube was updated significantly last year and currently averages sales close to 10,000 units a month. What's of even more note is that the e-scooter now makes up 10 percent of TVS' scooter sales.
TVS partners with Ion Mobility: details
Ion Mobility had unveiled its first battery-powered electric two-wheeler – the Ion M1-S – in late 2021. For TVS, this is a strategic move to expand its global footprint. The Hosur-based brand says it aims to provide Ion Mobility the necessary support to be successful in the electric two-wheeler markets of Singapore and Indonesia.
Sudarshan Venu, managing director, TVS Motor Company, said, “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, 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’ 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.”
The Southeast Asian region is home to over 200 million petrol-powered two-wheelers and 80 percent of households in Indonesia, Malaysia, Thailand and Vietnam own motorcycles. However, the widespread use of petrol-powered two-wheelers continues to put a burden on urban air quality and the environment, which makes electric two-wheelers a better alternative. Research suggests that the global market for electric two- and three-wheelers is estimated to be around USD 150 billion by end-2022.