The statement is False.
O2 is the chemical formula for molecular oxygen, which consists of two oxygen atoms bonded together. It represents the diatomic molecule that is essential for life as it is the form of oxygen that we breathe. An oxygen ion, on the other hand, refers to a single oxygen atom that has gained or lost electrons, resulting in a charged particle. For example, O2- is an oxide ion where the oxygen atom has gained two electrons, and O2+ would refer to an oxygen ion with a positive charge. Hence, the proper name for O2 is simply ‘oxygen,’ not ‘oxygen ion.’