TVS Motor Company has entered into a strategic partnership with Rapido by signing a Memorandum of Understanding (MoU). As part of the MoU, both the companies will look to collaborate by leveraging synergies of their respective businesses in the fast-moving mobility market in India. This MoU is in line with TVS Motor Company's announcements in the past of expanding the electric product portfolio which spreads across 5-25kW two- and three-wheelers. TVS aims to launch multiple electric vehicles by mid-2023.
The hyperlocal mobility segments bike-taxi, auto-taxi, and delivery have experienced a significant boom due to easy access to smartphones to urban populations across India. By signing this MOU, TVS Motor and Rapido are bringing together their strength in mobility and seamless technology platform, respectively, to deliver a winning proposition to this demanding user base. This comprehensive partnership will cover both two-wheeler and three-wheeler vehicles and extend across ICE and EV segments. TVS aims to have electric vehicles across segments like delivery, commuter premium, high-performance sports, and electric three-wheelers while expanding the presence of TVS iQube Electric across all major cities in India.
