myTVS to add 10,000 e2Ws on mobility-as-a-service platform for EV fleet players by March-end

TVS Mobility Group-owned automotive aftermarket service provider myTVS, which today launched a new mobility-as-a-service platform for electric vehicles fleet operators, expects to add 10,000 electric two-wheelers on the platform by the end of March.

Through the newly launched platform, myTVS looks to provide an extensive range of services including leasing to real-time fleet management and servicing, under one umbrella for the entire electric vehicle fleet. The company has started the MaaS platform with 250 electric two-wheelers and 50 electric light 
commercial vehicles.

“We see an immediate need of having to do at least 10,000 vehicles [electric two-wheelers] by March,” myTVS Managing Director G Srinivasa Raghavan told reporters today while launching the new platform. Group company TVS Vehicle Mobility will invest Rs 100-150 crore for the acquisition of 10,000 electric two-wheelers, which myTVS will then lease to electric fleet operators through the new platform.

Chennai-based myTVS currently has provided aftermarket service to over a million customers across India, with 1,000 outlets across 400 towns across India. The company has set a target to add 2,500 outlets in the next two years, expanding to 800 towns.

Raghavan noted that the new electric vehicle platform will help the company diversify its business from just providing services to internal combustion engine vehicles. He added that the two-wheeler segment is ripe for growth due to the increasing adoption of electric vehicles.

“This is very important for EV fleet operators because the key service clients like Zomato or Swiggy, or any other FMCG clients, have both perspectives - operational efficiency, and sustainability. When we asked one of them about their requirement, they just need the service on demand,” he said.

myTVS provides aftermarket service in Europe as well. The company will also pilot the new MaaS platform in a few other countries in Asia and Europe, as it looks to roll out the service in partnership with local aftermarket players there.