NEW DELHI: myTVS, one of India’s leading aftermarket service providers, has launched a new ‘mobility-as-a-service’ platform for electric vehicles (EVs) fleet operators.
With this launch, it will be adding 10,000 electric two-wheelers and a small number of light commercial vehicles (LCVs) on the platform by the end of March 2025.
myTVS Managing Director G Srinivasa Raghavan informed that the group company - TVS Vehicle Mobility Solutions - will invest Rs 100-150 crore for the acquisition of 10,000 vehicles. The EVs will be provided to large last-mile fleet operators such as MoEVing and Sun Mobility for a fee.
Raghavan said that the opportunity for them to grow in this space is huge given a million battery-powered two-wheelers, three-wheelers and LCVs will hit the e-commerce market in the next few years.
"More than a million vehicles need to be electrified in the e-commerce phase in the next 5 to 10 years. We are well positioned to provide a solution which is differentiated, unique and has inherent value to the free to us," said Raghavan.
This move is also allowing the TVS Mobility Group company to diversify and expand into EV space from its mainstay business which is providing after-market services to internal combustion engine-powered vehicles. This would also lead to a transition from personal mobility to fleet mobility solutions.
myTVS has crossed the 1,000 service centres milestone and is looking to expand its presence to 2,500 stores in the next 2 years.
“At present, we are opening 2 stores a day. We are now present in 400 cities and towns. This number will grow to 800 in the next 2 years. While India presents a big opportunity and will be our core focus, we are also running pilot projects in select Asian and European markets with a local partner,” said Raghavan.
The new platform, according to myTVS, brings in the entire ecosystem partners, including original equipment manufacturers (OEMs), to provide an extensive range of services under one umbrella for the entire EV fleet life cycle.
“From leasing to real-time fleet management, servicing, spare parts management (supported by a digital catalogue of 1.8 lakh SKUs), charging solutions (including portable chargers and myTVS charging stations), telematics, roadside assistance, insurance, and tyre management, the platform ensures seamless operations of the fleet,” the company said.