Key Highlights:
- myTVS is launching a pan-India MaaS platform for EV fleet operators.
- 10,000 electric two-wheelers will be added to the fleet by March 2024.
- The company is investing up to Rs 150 crore in this EV expansion.
- myTVS aims to electrify 10 lakh vehicles within 5-10 years.
myTVS to Unveil Mobility-as-a-Service Platform
Chennai-based myTVS, part of the TVS Mobility Group, is launching a new Mobility-as-a-Service (MaaS) platform. This platform will cater to last-mile electric vehicle (EV) fleet operators across India. It aims to connect all ecosystem participants, including original equipment manufacturers, to deliver comprehensive services throughout the EV fleet life cycle.
EV Fleet Expansion Plans
myTVS plans to add 10,000 electric two-wheelers to its fleet by March 2024. This expansion is a key part of its new MaaS platform operation. The company has partnered with MoEVing, an EV-based logistics startup, to provide end-to-end vehicle management solutions for the platform.
Leading the Transition to EVs
G. Srinivasa Raghavan, Managing Director of myTVS, stated that quick commerce companies are increasingly adopting electric vehicle fleets. This helps them optimize costs and meet sustainability goals. myTVS aims to lead this transition by providing innovative solutions for the EV market.
Investment and Growth Strategy
myTVS is investing between Rs 100 crore and Rs 150 crore to add new electric vehicles. This investment will be made either by TVS Vehicle Mobility alone or with partners. The company has already distributed 250 electric two-wheelers and 50 light commercial vehicles as part of its initial rollout.
Future EV Expansion Goals
The company has ambitious plans for the future. Raghavan highlighted the opportunity to electrify 10 lakh automobiles within the next 5-10 years, focusing primarily on the e-commerce sector. He emphasized that 10,000 vehicles must be deployed by March 2024 to meet immediate goals.
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ELCTRIK Speaks
myTVS is well-positioned to drive the shift toward electric vehicles in the fleet industry. With its Mobility-as-a-Service platform and upcoming fleet expansion, the company is making a significant investment in India’s EV future. By partnering with companies like MoEVing, myTVS is ready to meet the growing demand for EV fleet solutions, positioning itself as a leader in the rapidly evolving electric mobility sector.
