What does the future hold for TVS and Ion mobility’s E-bike partnership?
Delhi : The whole Apache line is now being sold by TVS out of its showroom in Singapore, where it recently started operating. It now has a partnership with Ion Mobility, a Singapore-based producer of electric two-wheelers.
TVS iQube received considerable updates last year, and sales are currently close to 10,000 units each month on average. Even more noteworthy is the fact that TVS's scooter sales currently account for 10% of the e-scooter market.
Ion Mobility and TVS partners: specs
In late 2021, Ion Mobility launched the Ion M1-S, the company's first battery-powered electric two-wheeler. This is a calculated move on the part of TVS to increase its global presence. The company with headquarters in Hosur states that its goal is to give Ion Mobility the assistance it needs to be successful in the markets for electric two-wheelers in Singapore and Indonesia.
"We are excited to work with Ion Mobility, a full-stack EV startup with a strong team of engineers and a technical foundation in Singapore, to push the premium electric two-wheeler growth in the area," said Sudarshan Venu, managing director of TVS Motor Company. We are pleased to support them as a strategic investor because we have similar goals.
James Chan, the founder and CEO of Ion Mobility, expressed his joy with TVS Motor's support for my team and I through the investment round and cooperation. We are thrilled to utilise TVS' decades of experience building two-wheelers around the world to hasten the production readiness of the "Mobius" M1-S as well as the creation and development of new variants. Together, we look forward to advancing the cause of electric and environmentally friendly two-wheelers.
In Southeast Asia, there are more than 200 million petrol-powered two-wheelers, and 80 percent of families in Indonesia, Malaysia, Thailand, and Vietnam have motorcycles. However, the widespread usage of gasoline-powered two-wheelers continues to have a negative impact on the environment and urban air quality, making electric two-wheelers a preferable option. According to research, the market for electric two- and three-wheelers is expected to reach USD 150 billion by the end of 2022.
