 "TVS Motor company")
TVS Motor Company on Wednesday announced it is extending collaboration with Singapore-based tech startup ION Mobility for its entry in the sports scooter segment in Indonesia.
The entry will be through Project Dynamo, ION Mobility's conceptual adaptation of TVS Motor's premium flagship crossover electric two-wheeler TVS X.
The two partners will deepen their collaboration through Project Dynamo, which began in February 2023 after TVS Motor led ION Mobility's USD 18.7-million Series A funding as a strategic investor.
"After successfully introducing its M1-S electric motorcycle, ION Mobility will enter the sports scooter market segment by unveiling Project Dynamo at the Indonesia Motorcycle Show," TVS Motor said in a release.
The five-day Indonesia Motorcycle Show (IMOS) commences on Wednesday in Jakarta.
Through this project, ION aims to capture the needs of Indonesian riders who prioritise performance and speed while improving upon the advantages of efficient and environment-friendly electric vehicles, it said.
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"We are thrilled to solidify our partnership with ION Mobility to drive the premium electric two-wheeler growth in Indonesia with the showcase of Project Dynamo at the IMOS," said Sharad Mohan Mishra, President Group Strategy at TVS Motor Company.
ION Mobility focuses on the development of electric motorcycles and supporting technologies and services to accelerate the transition of motorcycle riders in Indonesia and Southeast Asia from petrol to electric, as per the release.
On the other hand, TVS Motor enables faster adoption of electric mobility and development of the overall electric vehicle ecosystem, it said.
Both companies expect to bring their respective design, engineering and production capabilities to bear in Indonesia and produce innovative electric vehicles that meet the needs of the Indonesian market and beyond, the release stated.
"We are committed to elevating the ION brand into the top lifestyle brand for electric motorcycles in Indonesia, and believe that the co-creation that comes from both of our teams' combined efforts will absolutely delight Indonesian motorcyclists in the months and years ahead," said ION Mobility founder and CEO James Chan.
Under Project Dynamo, ION Mobility's electric motorcycle products will continue to be meticulously designed with the Indonesian motorcyclist in mind, embedding distinctive features and characteristics that will be iconic to its brand, the release said.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
