myTVS to Add 10,000 Electric Two-Wheelers for New 'Mobility-as-a-Service' Venture

Digital automotive aftermarket platform myTVS will add 10,000 electric two-wheelers to its fleet by March next year for its new 'Mobility-as-a-Service' venture aimed at last-mile electric vehicle operators. Partnering with MoEVing, myTVS plans to invest up to Rs 150 crore in the acquisition.

Digital automotive aftermarket platform myTVS has announced plans to add 10,000 electric two-wheelers to its fleet by March 2024. This initiative is part of the company's new 'Mobility-as-a-Service' (MaaS) venture aimed at catering to last-mile electric vehicle operators.

The company, part of the TVS Mobility Group of the TS Rajam branch of the TVS family, has partnered with EV-based logistics firm MoEVing for the venture. TVS Vehicle Mobility, a group firm, is set to invest between Rs 100 crore and Rs 150 crore for the acquisition.

myTVS Managing Director G Srinivasa Raghavan emphasized the urgency of electrifying up to 10 lakh vehicles within the next 5 to 10 years in the e-commerce sector, starting with an immediate goal of adding 10,000 vehicles by March. The company has already begun with the rollout of 250 electric two-wheelers and around 50 light commercial vehicles.

(With inputs from agencies.)