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TVS Motor Company acquires 48.27% stake in Nkars Mobility Millennial Solutions

17 Oct 2022 Evaluate

TVS Motor Company has acquired 48.27% stake in Nkars Mobility Millennial Solutions (DriveX) on October 15, 2022. Thereby DriveX has become an Associate of the company from October 15, 2022. The company sees a strong potential in the pre-owned two-wheeler market, which is witnessing a structural shift from the unorganized to the organized sector. The pre-owned two-wheeler market is growing rapidly and has garnered high levels of investor and customer interest in recent years, driven by digitization and emergence of start-ups. This investment in DriveX is aimed at enabling innovative solutions to lead this transformation.

TVS Motor Company is a reputed two and three-wheeler manufacturer.

Peers
Company Name CMP
Bajaj Auto 9861.10
TVS Motor Company 3920.20
Hero MotoCorp 4991.10
Eicher Motors 6960.00
OLA Electric Mobilit 36.30
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