ki Mobility Solutions Targets 5,000 Service Networks by 2027

ki Mobility Solutions, part of the TVS Mobility Group, aims to set up 5,000 service networks by 2027. The company will exceed 1,000 service outlets this month. Managing Director G Srinivasa Raghavan announced ambitious expansion plans, expecting revenue growth of 25-30% annually.

ki Mobility Solutions, a division of the TVS Mobility Group, is planning to establish 5,000 service networks by the year 2027, according to a statement made by a senior official on Thursday.

The company is set to surpass the 1,000 service networks milestone later this month, revealed ki Mobility Managing Director G Srinivasa Raghavan.

'myTVS will soon cross 1,000 service outlets, making it the largest multi-brand service network in this region. We aim to open 2,500 outlets in the next two years and 5,000 by 2027. The journey is very exciting,' he told reporters.

The 1,000th outlet is expected to open in North India later this month.

Raghavan also mentioned that ki Mobility generated revenues between Rs 1,800 and Rs 1,850 crore last year and anticipates Indian operations to grow between 25-30% annually. The aftermarket industry is forecasted to reach USD 25 billion by 2030 with consistent growth of 6-10% per year in India.

'The aftermarket industry will continue to grow, presenting challenges for independent garages to access training and parts. We are navigating a complex phase with multi-fuel, multi-modal technologies,' he added.

Of the proposed 5,000 service networks, 8-10% will be company-owned, with the rest being franchise models, Raghavan noted.

Currently, around 75-80 outlets are company-owned, adjusted based on geographic needs. The service networks, present in 450 towns, are expected to expand to 750, requiring each garage to employ about 6-7 personnel.

Regarding fund-raising for expansion, Raghavan said, 'It is too early to comment. We do not have a definite date or timeline.'

(With inputs from agencies.)