TVS Motor deepens collaboration with ION Mobility to tap Indonesia market

Project Dynamo is one step further in the collaboration between ION Mobility and TVS Motor that began February 2023 after TVS Motor led ION Mobility’s Series A funding of $18.7 million as its strategic investor.

ION Mobility said that, through Project Dynamo, the company aims to capture the needs of Indonesian riders who prioritize performance and speed while improving upon the advantages of efficient and environmentally friendly electric vehicles.

ION Mobility founder and CEO James Chan said: “It is an honour for my team and I at ION Mobility to have the chance to work with TVS Motor on the sports scooter segment, with the amazing TVS X as the starting point for Project Dynamo.”

Meanwhile, TVS Motor’s President – Group Strategy Sharad Mohan Mishra said: “Our focus on electrification is a testament to our commitment to a cleaner, greener, and more connected future which was validated through our recently launched TVS X. 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 Indonesia Motorcycle Show.”

After the announcement, shares of TVS Motor rose as much as 1.4% to hit an intra-day high of ₹1,607.70 on Wednesday on BSE. Year-to-date, the stock has rallied 49% compared with an over 5 % increase in the benchmark Sensex during the same period.