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

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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

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