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TVS Automobile Solutions Pvt. Ltd., (TVS ASL), country’s leading independent automotive aftermarket player, has announced the formation of a new digital subsidiary – Ki Mobility Solutions with funding of ₹85 crore from tech investors led by Pratithi Investment Trust (represented by its trustee S. Kris Gopalakrishnan, co-founder of Infosys) and SeaLink Capital Partners (SCP).
Ki Mobility is what the TVS ASL calls “India’s first full-stack O-to-O (online-to-offline) digital platform and it will offer quality, standardised and cost-effective service to vehicle owners of two-wheelers, passenger cars and commercial vehicles across the country, according to a statement.
Also read: Auto sales skid across segments
The digital platform is a maiden attempt in the industry to enhance the confidence of livelihood automobile entrepreneurs, whom it aims to include and provide nearly 10,000 retailers and 20,000 garage owners a single digital ecosystem. This will give them the opportunity to; increase their business, access to high-quality parts with better margins, link with a large pool of suppliers, digital technology solutions to provide superior services to their customers, digital learning to upgrade their skill and financial solutions to manage their working capital, etc.
“Launching Ki Mobility is a milestone moment in the Indian automotive aftermarket industry and equally a logical next step of our technology investments so far. We will fully leverage the cutting-edge technology solutions and create a digital ecosystem for over 20,000 entrepreneurs to enhance their future relevance,” said R Dinesh, Director, TVS Automobile Solutions.
Also read: Two-wheeler makers report double-digit decline in sales in April on MoM basis
The company, with an aim to strengthen the value proposition to end customers, further announced 100 per cent acquisition of GoBumpr, one of the largest B-to-C service aggregation platforms.
With this, Ki Mobility Solutions will become a one-stop-shop for all service requirements to automobile owners where they can access high-quality repair management services, Parts, Accessories, Tyres, Batteries, Insurance and on-demand Roadside Assistance across the country. Besides, the company already has over 3 million customers, by far the largest in the aftermarket industry, which it aims to increase to 10 million by FY25.
As for the offline model, with the recent acquisition of Mahindra First Choice (MFC), the company has successfully rebranded MFC network into my TVS fold thereby creating one of the largest multi-brand service networks across 270 towns in the country.
Also read: Despite Covid second wave, TVS Motor plans to charge up its EV range in FY22
“Ki Mobility will provide quality, transparent and cost effective first-time-right service solutions to vehicle owners with the unmatched convenience of thousands of organised multi-brand garage owners in 270 towns across the country. I firmly believe that the unique O2O business and technology model will create large value to all stakeholders – individual vehicle owners, garage owners/ retailers, alike and in helping parts manufacturers to increase their market share,” said G Srinivasa Raghavan, Managing Director, TVS Automobile Solutions.
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