Opening Remarks by 2M Tan See Leng at the Unveiling Event of ION Mobius

Ladies and Gentlemen,

1. A very good evening.

2. Thank you to the ION Mobility team for inviting me to be part of this momentous occasion today, to unveil your flagship product, ION Mobius.

ION MOBILITY’S SUCCESS IS A SIGNIFICANT MILESTONE FOR THE LOCAL MOBILITY ECOSYSTEM

3. Today is a very special day for ION Mobility and its founding team.

4. I would like to congratulate the team on your achievements, as your journey represents the aspirations of what we hope our startups can achieve.

a) First, with a tech-driven growth strategy, ION Mobility has built up proprietary capabilities to expand and compete regionally.

b) Second, as an original equipment manufacturer (OEM), ION Mobility has integrated innovative features into the product design to meet changing consumer preferences, such as the growing demand for greener products;

c) Third, ION Mobility is an international enterprise anchored by a strong Singapore core.

5. I am impressed by how much ION Mobility has accomplished in a short span of 2 years since being founded in October 2019.

6. Notably, during the COVID pandemic, ION Mobility was able to successfully complete two fundraising rounds, assemble a senior leadership team, and expand its operations to 3 countries.

a) I am also happy to note that ION Mobility is now ready to launch a small-batch manufacturing line in Singapore, and there are plans to scale up to a monthly output of 500 electric motorbikes and battery packs.

b) These are important milestones not just for ION Mobility, but also for the local automotive manufacturing industry.

FINDING OPPORTUNITIES IN EMERGING SEGMENTS SUCH AS THE GREEN ECONOMY

7. The global mobility landscape is primed for change, with economies recognising the imperative for more sustainable vehicles.

8. While the pandemic has disrupted mobility patterns and forced businesses to re-examine their operating models, it has also opened up opportunities for businesses to transform and capitalize upon important trends such as sustainability.

9. As Singapore moves towards electrifying our vehicle population by 2040¹, the launch of ION Mobius cannot be timelier and more significant.

a) ION Mobility has not only integrated IoT technologies in its ION Mobius design to create tech-enabled features for greater user experience, the innovative proprietary battery pack and engine design also allows it to achieve longer range and top speed, comparable to conventional Internal Combustion Engine (ICE) vehicles.

HELPING COMMITTED HOMEGROWN ENTERPRISES TO BUILD CAPABILITIES, INNOVATE AND INTERNATIONALISE

10. The launch of ION Mobius today is a culmination of the team’s passion, courage, and hard work over the past two years.

a) The journey of a startup is never easy.

b) I am glad to hear how ION Mobility has been supported by various Government agencies throughout their entrepreneurial journey.

c) Besides receiving support from JTC, ION Mobility has worked closely with Enterprise Singapore (ESG) to develop ION Mobius and expand its overseas footprint.

d) The investment from SEEDS Capital, ESG’s investment arm, will also help ION Mobility to accelerate its manufacturing and go-to-market operations in Singapore and Indonesia.

11. The Government, together with ecosystem partners, remains committed to supporting homegrown startups like ION Mobility, because your success creates jobs and growth opportunities for Singapore.

12. ESG offers a holistic suite of support initiatives such as Startup SG programmes and Global Innovation Alliance, to help startups develop new technologies and products, and seize opportunities in new growth areas.

CONCLUSION

13. Once again, I would like to take this opportunity to offer my heartiest congratulations to James and his team at ION Mobility on the launch of ION Mobius.

a) I wish you every success and may you continue to scale to new heights.

Thank you.

¹ Singapore Green Plan 2030