TVS Motor Company announced on Oct 25 that it is expanding its collaboration with Singapore-based tech startup ION Mobility for its entry into the Indonesian sports scooter market. Project Dynamo, ION Mobility's conceptual adaptation of TVS Motor's premium flagship crossover electric two-wheeler TVS X, will be used to enter.
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, will deepen the two partners' collaboration.
"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," said TVS Motor in a press release.
The five-day Indonesia Motorcycle Show (IMOS) commences on Oct 25 in Jakarta. Through this project, ION aims to capture the needs of Indonesian riders who prioritize performance and speed while improving upon the advantages of efficient and environment-friendly electric vehicles, it said.
"We are thrilled to solidify our partnership with ION Mobility to drive premium electric two-wheeler growth in Indonesia with the showcase of Project Dynamo at IMOS," said Sharad Mohan Mishra, President - Group Strategy at TVS Motor Company.
According to the release, ION Mobility focuses on the development of electric motorcycles as well as supporting technologies and services to accelerate the transition of motorcycle riders in Indonesia and Southeast Asia from gasoline to electric.
TVS Motor, on the other hand, enables faster adoption of electric mobility and the development of the overall electric vehicle ecosystem, according to the company.