TVS Motor, Rapido sign pact to strengthen hyper-local mobility
The Hindu
CHENNAI
TVS Motor Company has announced a strategic partnership with auto and bike taxi aggregator Rapido to leverage synergies of their respective businesses in the fast moving mobility market.
Hyper-local mobility, buoyed by an increasing urban population with ready access to smartphones and increasing penetration of e-commerce and on-demand services, had boomed into a potential $158 billion opportunity, the two-wheeler maker said.
By signing this MoU, both firms are bringing together their strength in mobility and seamless technology platform, respectively, to deliver a winning proposition to a demanding user base, TVS Motor said in a statement.
This comprehensive partnership would cover both two-wheeler and three-wheelers and extend across ICE and EV segments, it added.
Further, the MoU is in line with TVS Motor’s expansion of electric product portfolio ranging from 5-25kW for two-and three-wheelers. These are expected to be unveiled by mid-2023.
TVS Motor said it aimed to have EVs across segments such as delivery, commuter premium, high-performance sports, and electric three-wheelers, while expanding the presence of TVS iQube electric across all major cities in India.
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