TVS Motor Company has announced a strategic partnership with Rapido, India’s leading on-demand delivery and mobility platform by signing a Memorandum of Understanding (MoU). As part of the MoU, TVS Motor and Rapido will look to collaborate by leveraging synergies of their respective businesses in the fast-moving mobility market in India.
Buoyed by an increasingly urban population with ready access to smartphones and increasing penetration of e-commerce and on-demand services across India, the hyperlocal mobility segments bike-taxi, auto-taxi, and delivery has experienced a significant boom and now represents a potentially USD 15billion opportunity.
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.
Both parties will also look to leverage the learnings from the collaboration to enhance the product usage experience of the Rapido Captain and Rider base through delivery of improved overall journey experience in the form of better product forms, credit and financing solutions, and other use cases delivered via technology innovations.
Michelin announced the launch of the Michelin X Multi Energy Z2, a new-generation truck and bus tyre developed for Indian operating conditions and tested on Indian highways.
Uno Minda, a leading Tier 1 supplier of proprietary automotive solutions to Original Equipment Manufacturers (OEMs), has launched its 10-Inch active under-seat subwoofer, featuring 200W RMS power in a...
Volkswagen Group and NXP Semiconductors announced ahead of the International Suppliers Fair (IZB) in Wolfsburg that they had agreed on a strategic partnership.