TVS Motor divests stake in Singapore-based EV solutions provider Ion Mobility

TVS Motor Company, via its Singapore-based arm TVS Motor (Singapore) Pte Ltd, has divested its stake in Ion Mobility while acquiring identified assets from the latter for USD 1.75 million (about INR 15 crore).The stake has been sold to Ion Mobility and Chan Lianghong James, promoter of Ion Mobility.Ion Mobility designs, engineers and manufactures smart electric motorcycles and charging and energy storage solutions for Southeast Asia commuters.