In Hyper local mobility segment, TVS motor Company on Wednesday signed an MoU with bike-taxi platform Rapido. Under the agreement the two companies will look to cooperate on supporting teamwork of their respective businesses in the fast moving mobility space in India.
The comprehensive partnership will cover both two and three wheeler vehicles, particularly from the connected products from the TVS electric portfolio. For Rapido the MoU will help to increase it’s electric bike fleet.
Both the companies will focus to improve the product usage experience of the Rapido Captain and Rider base through delivery of improved over overall journey experience in the form of better product forms and financing solutions, and other use cases delivered via technology revolutions.
“Rapido is the leading bike-taxi platform in India today. We trust we can increase our reach in the mobility and hyperlocal segments using high quality, connected products from the TVS Electric portfolio and financing from our group. We believe that TVS Motor, TVS Credit and Rapido can be long term strategic partners as this ecosystem matures further,” said, Sudarshan Venu, Joint Managing Director of TVS Motor Company.
In January TVS motor had a similar strategic partnership with on-demand delivery platform Swiggy for utilizing it’s EV’s for food delivery. The MoU also comes close on the lists of TVS motors statements in the post of increasing its electric products, launching all of them by mid-2023.