TVS Invests in DriveX – A Pre-Owned 2-Wheeler Platform

DriveX is a used 2-wheeler platform wherein you can purchase motorcycles and scooters and even opt for their subscriptions…

TVS Motor has informed that it has invested in a company called as DriveX. DriveX is owned by India’s first Formula 1 Racing driver Narain Karthikeyan.

What is DriveX?

DriveX is a pre-owned 2-wheeler platform which was started in April 2020. Apart from outright purchase of used 2-wheelers, there is also an option of subscription ie you can pay only for the duration you want to use the vehicle. The platform has spread across to five cities in a short span of time and is present in Bangalore, Chennai, Coimbatore, Madurai and Arupukkottai.

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With this fresh investment from TVS Motor, Narain says, the company will be able to expand the DriveX vision of delivering affordable, quality, pre-owned 2-wheelers for the customers.

Sudarshan Venu, Managing Director at TVS Motor said that the pre-owned 2-wheeler market is largely unorganized and his interest in DriveX stems from the company’s performance in a short span of time. It intends to expand quickly and has plans to venture in this space where other makers are also taking interest.