By signing this MOU, both companies combine their strengths in mobility and a seamless technology platform
By signing this MOU, both companies combine their strengths in mobility and a seamless technology platform
TVS Motor Company has announced a strategic partnership with car and pedicab aggregator Rapido to leverage synergies between their respective businesses in the fast-paced mobility market.
Hyper-local mobility, fueled by a growing urban population with easy access to smartphones and increasing penetration of e-commerce and on-demand services, has become a potential $158 billion opportunity, the two-wheeler maker said.
By signing this MOU, both companies combine their strengths in mobility, or a seamless technology platform, to deliver a winning offering to a sophisticated user base, TVS Motor said in a statement.
This comprehensive partnership would cover both two-wheelers and three-wheelers and would span the ICE and EV segments, she added.
In addition, the MoU is consistent with the expansion of TVS Motor’s electric product portfolio from 5 to 25 kW for two- and three-wheelers. These are expected to be presented in mid-2023.
TVS Motor said it aims to offer electric vehicles in segments such as delivery, premium commuter, high-performance sports and electric tricycles, while expanding TVS iQube electric’s presence in all major cities in India.
