TVS Automobile’s Ki Mobility Solutions forays into electric vehicles
Ki Mobility Solutions, a part of TVS Automobile Solutions, on Wednesday announced the launch of a comprehensive digital mobility service platform for electric vehicles (EV). Marking its entry into the EV segment, the company has tied up with eight EV manufacturing start-ups and leading original equipment manufacturers (OEM), including companies like Okinawa and Boom Motors.
The set of services include providing charging station facilities for these companies at over 2,500 garages associated with myTVS. Ki Mobility is India’s first full-stack O-to-O (online to offline) digital platform that operates myTVS brand. The move will help electric vehicle manufacturers to jump start their operations across the country. The tie up will include companies in the two-wheelers, three-wheelers, LCVs and passenger cars space.
The digital platform from Ki Mobility Solutions will provide the manufacturers with a wide service network across 250-plus towns for sales, service, insurance, roadside assistance, charging stations and parts. “Launch of digital mobility platform for EV is a milestone moment in the automotive aftermarket industry. The platform provides an opportunity to discover new business models that have been traditionally defined as dealership and independent aftermarket. This platform provides a portfolio of solutions that would help Electric vehicle manufacturers provide complete customer centricity that they desire to provide for their customers,” said G Srinivasa Raghavan, Managing Director, Ki Mobility Solutions.
He added that Ki Mobility’s cloud based service network would support the accelerated roll-out plans along with service promises to the electric vehicle manufacturers that would help them drive the competitive advantage. “We are not going to invest in charging stations, instead we will provide them with both physical and technological infrastructure. We are targeting a market share of around 30 per cent in the EV market,” Raghavan said.
As technicians servicing EVs have to be trained in different battery operations technology and different power transmission concepts, Ki Mobility Solutions has already invested in training around 500 technicians across the country to service all types of electric vehicles ensuring the highest quality standards.
TVS Automobile Solutions had created its new subsidiary Ki Mobility Solution in November 2020. Later, the new entity raised Rs 85 crore from investors such as Pratithi Investment Trust (represented by its trustee and Infosys co-founder Kris Gopalakrishnan) and SeaLink Capital Partners (SCP). Through KiMobility, TVS ASL is looking to capture a larger market share in the $10-billion automotive after-market, which is largely unorganised through the presence of about 500,000 garages, by playing the role of an aggregator.
The sale of EVs, especially two-wheelers, has been on the rise over the last couple of years and H1 FY22 saw a sale of over 1.18 lakh EV units, which is equivalent to 90 per cent of the total sales last year. “Ki Mobility Solutions aims to fill the gap for manufacturers through its digital tech solutions and mobility delivery model to support manufacturers provide customer centricity thereby accelerating their growth plans,” the company said in a statement.
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
