TVS Motor Company Invests In Narain Karthikeyan's Startup DriveX The investments will enable DriveX to further scale up offerings in the pre-owned two-wheeler space in India
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TVS Motor Company, two-wheeler and three-wheeler manufacturers, has invested in Narain Karthikeyan's startup DriveX, a pre-owned two-wheeler platform. The pre-owned two-wheeler market is growing rapidly and has garnered high levels of investors and customer interest in recent years, driven by digitization and emergence of startups. This investment aimed at enabling innovations solutions to lead this transformation.
"The pre-owned two-wheeler vehicle market is changing rapidly today. DriveX is a digital first business, serving all brands with unique analytics-led capabilities across the value chains. In the coming years, DriveX will aim to strengthen its presence across India, followed by other geographies in due course. With this investment from TVS Motor Company, we are confident of expanding the DriveX vision and delivering a pre-owned two-wheeler business that exceeds customer expectations," said Narain Karthikeyan, founder and CEO, DriveX.
Founded by Narain Karthikeyan, DriveX is a fully integrated model present across the pre-owned two-wheeler vehicle value chain. This includes all core areas including procurement, refurbishment and retailing of multi-brand pre-owned two-wheelers.
"The pre-owned two-wheeler market is largely unorganized today. It is delightful to see what DriveX has been able to create and deliver in short time. The platform has a vision to bring change in this segment by building trust, assurance and transparency through end-to-end, high quality products and customer experience through innovative solutions. We are confident of DriveX ability to deliver o this vision," said Sudarshan Venu, managing director, TVS Motor Company.
TVS Motor Company is a reputed two and three-wheeler manufacturer globally, championing progress through sustainable mobility with four state-of-the-art manufacturing facilities in Hosur, Mysuru and Nalagarh in India and Karawang in Indonesia, as per a statement.