TVS Motor Firm’s subsidiary, TVS Motor (Singapore) Pte. Ltd., has boosted its funding in Ion Mobility Non-public Restricted, a Singapore-based tech and automotive OEM. This transfer goals to bolster TVS Motor Firm’s efforts in driving the premium electrical ecosystem throughout Southeast Asia.
On March 14, 2024, TVS Motor (Singapore) Pte. Ltd. subscribed to an extra 1,820,326 Collection AA Shares of Ion Mobility, making Ion Mobility an affiliate of each TVS Motor (Singapore) Pte. Ltd. and TVS Motor Firm Restricted.
The mixture funding stands at USD 5.5 million, with the primary tranche of USD 2.5 million already invested. The remaining USD 3 million shall be injected earlier than March 31, 2024.
Ion Mobility, established in October 2019, focuses on creating sustainable mobility and power options for patrons in Southeast Asia.
For the 12 months ended 2023, Ion Mobility reported a loss after tax (PAT) of SGD 6,094,300.23 and a internet price of SGD 14,149,127.72.
 Pte. Ltd. subscribed to an additional 1,820,326 Series AA Shares of Ion Mobility, making Ion Mobility an associate of both TVS Motor (Singapore) Pte. Ltd. and TVS Motor Company Limited.){kind=link}