TVS Motor Company has invested in Narain Karthikeyan’s DriveX, a pre-owned two-wheeler platform, to capitalize on the growing digitization and organized sector shift in India's two-wheeler market.
Target Information
TVS Motor Company recently announced its investment in "DriveX" (NKars Mobility Millennial Solutions Private Limited), a start-up founded by Narain Karthikeyan, India's first Formula 1 driver. DriveX operates within the pre-owned two-wheeler market in India, offering an integrated model that encompasses procurement, refurbishment, and retailing of multi-brand pre-owned two-wheelers. Established in April 2020, DriveX initially focused on providing a subscription service for two-wheelers and has quickly expanded its operations to five cities.
The platform is notable for its unique, data-driven approach, catering to a growing demand for digital mobility solutions. Narain Karthikeyan, as the CEO, emphasizes DriveX's commitment to high-quality service and innovative business models, including its subscription offerings, which are well-received in the evolving market landscape.
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Industry Overview
The pre-owned two-wheeler market in India is undergoing a significant transformation, shifting from unorganized to organized sectors. This transition is fueled by increasing digitization and the ris
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TVS Motor Company
invested in
DriveX (NKars Mobility Millennial Solutions Private Limited)
in 2022
in a Other Corporate deal