TVS patrtnership with Rapido is to improve the hyperlocal segment of our country… TVS will be bringing own products to help further…
TVS Motors have announced a strategic partnership with Bengaluru based Rapido to bring together their expertise and facilitate the fast-moving mobility market of India.
Rapido is a Bengaluru based auto & bike taxi aggregator which serves the citizens of Tier-I to Tier-III cities. Their smartphone app allows the users to book bike-taxis and auto-taxis at their location with claimed minimum delay, economical and better safety.
As part of the partnership, TVS Motor and Rapido will work together by ‘leveraging synergies of their respective businesses in the fast-moving mobility market in India’.
Speaking at the occasion, Mr. Sudarshan Venu (Joint Managing Director, TVS) said –
“TVS Motor firmly believes in the future of mobility and the strength of partnerships in this global transformation. We have always been at the forefront of driving electrification in the industry with our continued focus on EVs and Future mobility. Rapido has built a strong user base of Captains and Riders and is the leading bike-taxi platform in India today. We believe we can expand our reach in the mobility and hyper-local 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.”
As part of their plans, TVS explained that they see a lot of potential in the Hyper-local mobility segment thanks to the increase in demand from the urban population who have improved access to smartphones and increasing penetration of e-commerce and on-demand services across India. They see the hyper-local mobility segment – consisting of bike-taxis, auto-taxis, delivery vehicles etc. – to have a potential of becoming a $15 Billion industry in the near future.
So with this partnership, TVS and Rapido are going to leverage their expertise in Mobility and Seamless Technology respectively to better serve and create new solutions for the demanding user base of the hyper-local mobility segment of India.
Sharing the future plans, both the companies are looking forward to learning and improving from all the achievements & shortcomings of their collaboration to improve the user experience by creating better product forms, credit & financial solutions and other services by using new technology innovations.