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Singapore-based smart electric motorbike company ION Mobility is set to be acquired by Indian two-wheeler giant TVS Motor.
The deal, expected to be finalised on 1 April 2025, will see TVS Motor take over all of ION Mobility’s assets and intellectual property.
TVS is an investor in ION Mobility, having invested in the EV startup’s US$18.7 million Series A round in February 2023.
James Chan, founder and CEO of ION Mobility, will transition to TVS Motor as Senior Vice President, heading both ASEAN operations and the ION M1-S platform.
The startup’s other backers are AC Ventures Malaysia, Michael Sampoerna, TNB Aura, Quest Ventures, Monk’s Hill Ventures, Village Global, GDP Venture, Seeds Capital, and Quest Ventures.
