News, 10 March 2025
According to blog post in ION Mobility, it would merge with TVS Motor. With this merger, TVS Motor would be taking over all the assets and intellectual property of ION Mobility. Beginning on April 1, 2025, the entire ION Mobility team will integrate with TVS Motor as part of this arrangement. James Chan, the company’s Founder and CEO, will join TVS Motor as Senior Vice President, where he will be in charge of the ION M1-S platform and supervise the ASEAN region.
James Chan, who launched ION Mobility in October 2019, said that selling the business was not his goal. The initial plan was to expand into energy storage and charging infrastructure in addition to electric two-wheelers. The search for investors who were fully aware of the company’s long-term vision, however, proved fruitless despite attempts to obtain more funding to continue operating as an independent business.
TVS Motor, the fourth-largest two-wheeler manufacturer in the world, will relaunch the ION M1-S in Indonesia with improved manufacturing and quality standards thanks to this acquisition. TVS Motor’s larger intentions to grow in the ASEAN electric two-wheeler industry will integrate ION Mobility’s engineering and design experience.
When speaking about the merger, James Chan recognized the challenges of establishing a business in an industry with few local suppliers and experts for electric two-wheelers. He said that joining TVS Motor would provide him the industry reach and resources he needed to scale operations more successfully.
ION Mobility will officially join TVS Motor on April 1, 2025, and its staff will support the company’s regional expansion strategy in the electric mobility industry.
