TVS Motor Company has invested in Narain Karthikeyan’s start-up DriveX (NKars Mobility Millennial Solutions Private Limited), a pre-owned two-wheeler platform.
Founded by India’s first Formula 1 ace racing driver Narain Karthikeyan, DriveX is a fully integrated model present across the pre-owned two-wheeler vehicle value chain. This includes all core areas, including procurement, refurbishment, and retailing of multi-brand pre-owned two-wheelers.
The OEM sees strong potential in the pre-owned two-wheeler market, which is witnessing a structural shift from the unorganised to the organised sector, noted Sudarshan Venu, Managing Director, TVS Motor Company. He said, “Narain and his team have built a unique platform that can scale up quickly. DriveX has the vision to bring a change in this segment by building trust, assurance, and transparency through end-to-end, high-quality products and customer experience through innovative solutions.”
The pre-owned two-wheeler market is growing rapidly and has garnered high levels of investor and customer interest in recent years, driven by digitisation and the emergence of start-ups. This investment in DriveX, as per TVS Motor, is aimed at enabling innovative solutions to lead this transformation.
Narain Karthikeyan, Founder and CEO of DriveX, said, “In the coming years, DriveX will aim to strengthen its presence across India, followed by other geographies in due course. With this investment from TVS Motor Company, we are confident of expanding the DriveX vision, and delivering a pre-owned two-wheeler business that exceeds customer expectations.”