TVS Motor Company’s arm to acquire stake in Ion Mobility

The investment will enable TVS Motor Company to drive the premium electric ecosystem in South-east Asia TVS Motor Company’s wholly owned subsidiary -- TVS Motor (Singapore) has entered into an investment agreement with ION Mobility (ION). The company has entered into an investment agreement with an aim to provide ION the necessary ecosystem support to be successful in the electric two-wheeler markets of Singapore and Indonesia. The partnership is in line with TVS Motor Company’s commitment to build an aspirational product portfolio while associating with sustainable and scalable brands. It also reiterates the company’s strategy to expand its global presence. TVS Motor (Singapore) will subscribe to 3,144,198 Series AA Shares of Ion Mobility. Cost of acquisition is $9,500,000. The investment will enable TVS Motor Company to drive the premium electric ecosystem in South-east Asia. TVS Motor Company is a reputed two and three-wheeler manufacturer.