The Business Times
business-time-50
Asean Business logo
SPONSORED BYUOB logo
SUBSCRIBERS

Singapore’s ION Mobility to invest US$15 million in Indonesia electric vehicle market

google-preferred-sourceAdd BT as a preferred source
Elisa Valenta

Elisa Valenta

Published Wed, Oct 25, 2023 · 12:00 PM
    • Ion Mobility's CEO James Chan said the aim is to grow his company into South-east Asia's leading electric mobility solutions provider, with Indonesia a key market in the region.
    • Ion Mobility's CEO James Chan said the aim is to grow his company into South-east Asia's leading electric mobility solutions provider, with Indonesia a key market in the region. Photo: ION MOBILITY

    [JAKARTA] Ion Mobility, a Singapore-based electric vehicle (EV) startup, will invest US$15 million over the next three years to expand its presence in Indonesia, its founder and chief executive officer James Chan told The Business Times.

    The company and its strategic investor TVS Motor Company – the third-largest motorcycle company in India in terms of revenue – will deepen their collaboration to develop electric sports scooters.

    This collaboration, called Project Dynamo, was announced at this week’s Indonesia Motorcycle Show that takes place in Tangerang – a satellite city of the capital Jakarta – from Wednesday (Oct 25) to Sunday.

    Electric vehiclesIndonesiaAsean BusinessAsean

    TRENDING NOW

    Longest-serving chief minister Taib Mahmud’s legacy looms large over Sarawak as a family feud over his estate threatens to expose skeleton’s in the eastern state’s political closet.

    On the board but frozen out: The Taib family feud tearing Sarawak construction giant apart

    Indonesian President Prabowo Subianto and Russian President Vladimir Putin met at the Kremlin in Moscow on April 13.

    As more Asean states turn to Russia for fuel, will Moscow boost its influence in the region?

    Thailand’s target is to export seven million tonnes of rice globally in 2026, but the Middle East war has turned the world topsy-turvy with supply disruptions, high oil prices and economic uncertainty.

    Thai and Vietnamese farmers may stop planting rice because of the Iran war. Here’s why

    Electric vehicles and the changed dynamics of mainstream and luxury car segments mean Certificates of Entitlement should not be used to classify cars.

    Is it time to scrap COE categories for cars? 

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More