TVS Motor Company (TVSM), a leading global manufacturer of two- and three-wheelers, is expanding its footprint in Southeast Asia’s electric vehicle (EV) market through the acquisition of ION Mobility’s assets. This strategic move includes acquiring intellectual property, key personnel, and other vital assets from ION Mobility, a company known for its in-house expertise in product design, engineering, and supply chain management.
The Southeast Asian region, one of the fastest-growing motorcycle markets globally, offers significant growth potential for TVS Motor. This acquisition is set to enhance TVS Motor’s position in the rapidly evolving EV sector.
TVS Motor has been an early investor in ION Mobility, a full-service electric vehicle company with strong capabilities in EV design and engineering. By integrating ION’s assets, TVS aims to combine its established expertise in electric mobility with ION’s design and engineering talent to accelerate its growth in the region.
Sharad Mohan Mishra, President of Group Strategy at TVS Motor Company, commented on the acquisition, saying, “We were early investors in ION Mobility because of their commitment to sustainable, innovative mobility solutions for the ASEAN region. Their vision aligns perfectly with our ‘Reimagine 2030’ strategy. By acquiring ION’s assets and core team, we are integrating their energy, design expertise, and engineering skills with our own R&D, manufacturing capabilities, and quality systems. This gives us a strong foundation to accelerate our growth and increase our market share in Southeast Asia.”
TVS Motor has already made a significant mark on the global EV market. The company’s flagship electric scooter, the TVS iQube, has attracted nearly 600,000 customers. TVS has built extensive in-house expertise in key EV components, including battery systems, battery management, vehicle control units, and connected platforms, and holds over 650 patents related to electric vehicles.
Earlier this week, TVS Motor announced that its subsidiary, TVS Motor (Singapore) Pte Ltd, acquired select assets from ION Mobility while divesting its stake in the company. James Chan, Founder and CEO of ION Mobility, has joined TVS Motor as Senior Vice President. He will lead TVS’s operations in ASEAN and oversee the development and launch of the M1-S electric platform, which has already generated strong interest in the region due to its impressive design, range, and agility—making it an ideal option for daily commuting.
TVS Motor Company (BSE: 532343, NSE: TVSMOTOR) is a globally recognized leader in manufacturing two- and three-wheelers. With state-of-the-art manufacturing facilities in India and Indonesia, TVS is committed to advancing sustainable mobility. The company draws on a 100-year legacy of trust, value, and dedication to customer satisfaction, producing internationally acclaimed products through innovative and eco-friendly processes.
TVS Motor is the only two-wheeler company to have won the prestigious Deming Prize and has consistently ranked high in the J.D. Power Initial Quality Study (IQS) and APEAL surveys. The company has also earned the top spot in customer service satisfaction in J.D. Power’s rankings for four consecutive years.
In addition, TVS Motor’s group company, Norton Motorcycles, based in the UK, remains one of the most iconic motorcycle brands worldwide. Through its subsidiaries, Swiss E-Mobility Group (SEMG) and EGO Movement, TVS is also a key player in the Swiss e-bike market. Operating in over 80 countries, TVS Motor is focused on providing exceptional customer experiences while continuing its legacy of excellence in the global mobility sector.
