TVS Motor Company has reportedly partnered with Rapido, a leading platform for on-demand mobility and delivery services.
Under the deal, Rapido and TVS Motor seek to collaborate by using partnerships of their respective businesses in the Indian market of fast-moving mobility.
By inking this MoU (memorandum of understanding), Rapido and TVS Motor are bringing together their strengths in seamless technology and mobility platform respectively to offer a relevant proposition to this highly demanding user base.
This collaboration will encompass both three-wheeler and two-wheeler vehicles and extend across the electric vehicle and internal combustion engine segments.
Commenting on the latest development, TVS Motor’s Joint Managing Director, Sudarshan Venu, mentioned that Rapido possesses a strong base of Riders and Captains and is India’s leading bike-taxi platform.
Mr. Venu added that the company can broaden its reach in the hyper-local and mobility segments by using connected, high-quality products of the TVS Electric portfolio as well as the group’s financing.
Claims have been made that Rapido, TVS Credit, and TVS Motor can establish a long-term strategic partnership with the proliferation of the ecosystem.
This agreement aligns with TVS Motor’s announcements of expanding its electric portfolio which spreads across 5-25kW three and two-wheelers, unveiling all of them by the mid of next year.
TVS Motor intends to inculcate electric vehicles across segments like high-performance sports commuter premium, delivery, along with electric three-wheelers while broadening the footprint of TVS iQube Electric across all major Indian cities.
Rapido’s Co-Founder, Aravind Sanka, cited that the company has foreseen first-mile and last-mile daily commuting gaps in the country beyond metro cities in tier 2 and tier 3 regions.
Sanka added that the partnership with TVS Motor Co is an extension of the company’s vision and a step closer to its objectives.
In other news, TVS Motor Company has joined forces with Petronas to establish Petronas TVS Racing Team.
Source Credits: https://www.business-standard.com/article/companies/tvs-motor-signs-deal-with-rapido-to-strengthen-hyperlocal-mobility-business-122042700682_1.html