TVS Motor to expand electric vehicle business in Southeast Asia

BENGALURU Bengaluru: TVS Motor Company (TVSM) is set to strengthen its electric vehicle (EV) presence in Southeast Asia through the integration of ION Mobility’s assets, intellectual property and talent across its operations. Southeast Asia is one of the world’s fastest-growing regions for motorbike usage, offering a significant opportunity for expansion.

TVSM has been a strategic investor in ION Mobility, a full-stack EV company known for its strong in-house capabilities in industrial and product design, mechanical and electrical engineering, embedded and power electronics, firmware, software and supply chain solutions. This integration, coupled with TVSM’s deep expertise in electric mobility, is a major step towards opening up new possibilities in the region.

Sharad Mohan Mishra, President Group Strategy, TVSM, said: “With our R&D depth, quality systems and manufacturing scale, this partnership positions us to enhance market penetration and grow our share in Southeast Asia.” TVS Motor is already a strong player in the global EV landscape, with nearly 600,000 customers choosing its flagship electric scooter, the TVS iQube. The company holds over 650 patents in the EV domain.

Earlier this week, TVSM announced that its wholly-owned subsidiary TVS Motor (Singapore) Pte Ltd has acquired select assets from ION Mobility and also sold its stake in the company. Following the move, ION Mobility founder-CEO James Chan has joined TVS Motor Company as senior vice president