TVS Motor gains on collaboration with ION Mobility for Project Dynamo

Project Dynamo is ION Mobility’s conceptual adaptation of TVS X, TVS Motor’s premium flagship crossover EV, which was launched earlier this year

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26 Aug, 2025 12:21

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Shares of TVS Motor gained 1.3 percent to reach day’s high of Rs 1,607 per share on October 25 as it prepares to unveil Project Dynamo at the Indonesia Motorcycle Show 2023 (IMOS) in collaboration with ION Mobility.

In the past three months, the stock of this two-wheeler major has rallied 16 percent as against 3 percent decline in the Sensex benchmark. TVS Motor stock had hit 52-week high of Rs 1,616 apiece on October 16, 2023.

The company said that Project Dynamo was a result from TVS Motor’s collaboration with ION Mobility, a Singapore-based technology startup. The partnership had begun in February 2023 after TVS Motor led ION Mobility’s Series A funding of $19 million as its strategic investor.

Project Dynamo is ION Mobility’s conceptual adaptation of TVS X, TVS Motor’s premium flagship crossover EV, which was launched earlier this year.

Under Project Dynamo, ION Mobility’s electric motorcycle products will continue to be designed with Indonesian motorcyclist in mind, embedding distinctive features and characteristics.

“We are thrilled to solidify our partnership with ION Mobility to drive the premium electric two-wheeler growth in Indonesia with the showcase of Project Dynamo at the IMOS,” said Sharad Mohan Mishra, President – Group Strategy, TVS Motor.

Earlier, TVS Motor had informed that they debuted Venezuela market – first automobile manufacturer to enter the market. The company entered with 14 products, which included two-wheelers and three-wheelers.

The company is scheduled to announce September-ended quarter results on October 30, 2023.

Analysts at Axis Securities expect the auto major’s revenue to rise 14 percent year-on-year (YoY) to Rs 8,228 crore led by rise in volumes and increase in average selling price.

That apart, profit-after-tax (PAT) for the quarter is likely to climb 32 percent YoY to Rs 539 crore in Q2FY24 versus Rs 407 crore in the year-ago period.