By signing this MoU, both the companies are bringing together their strengths in mobility and seamless technology platform
By signing this MoU, both the companies are bringing together their strengths in mobility and seamless technology platform
TVS Motor Company has announced a strategic partnership with auto and bike taxi aggregator Rapido to leverage the synergy of their respective businesses in the rapidly growing mobility market.
The two-wheeler maker said hyper-local mobility had turned into a potential $158 billion opportunity fueled by a growing urban population with ready access to smartphones and increased access to e-commerce and on-demand services.
By signing this MoU, both the companies are bringing their strengths in mobility and seamless technology platform respectively to offer to conquer a demanding user base, TVS Motor said in a statement.
This comprehensive partnership will cover both two wheelers and three wheelers and will expand into the ICE and EV segments.
In addition, the MoU is in line with TVS Motor’s expansion of electric product portfolio in the range of 5-25kW for two and three wheelers. These are expected to be unveiled by mid 2023.
TVS Motor said it aims to have EVs in segments such as delivery, commuter premium, high-performance sports and electric three-wheelers, while expanding TVS iQube Electric’s presence across all major cities in India.