Business

Ki Mobility eyes ₹1,800 crore revenue by FY23

G. Srinivasa Raghavan.

G. Srinivasa Raghavan.

Ki Mobility Solutions, the subsidiary of TVS Automobile Solutions Pvt. Ltd., has drawn up several digital initiatives to reach a turnover of ₹1,800 crore during FY23, said MD G. Srinivasa Raghavan.

The company, a digital subsidiary of TVS Automobile Solutions Pvt. Ltd, offers services to owners of two-wheelers, passenger cars and commercial vehicles across the country.

“The Indian aftermarket industry is expected to grow at double digits from ₹64,000 crore to ₹87,000 crore by 2025,” Mr. Raghavan said. “Besides, myTVS being the industry leader in this segment we will grow above the industry growth.”

"This calls for investing in technology and expanding footprint. In the last three years, we have invested around ₹150 crore towards our various digital initiatives. Our key investment will be in technology and in our growth initiatives," he said.

According to him, Ki Mobility aims at providing an innovative, technology-based global service and parts delivery model to help manufacturers connect with customers, garages and retailers directly.

Currently, Ki Mobility brand myTVS serves 2.5 million customers through 1,000 garages. Ki Mobility is eyeing a total turnover of ₹1,800 crore in FY23 (₹1,200 crore in FY21).

On Wednesday, the company introduced a super app ‘myTVS Life360’, for all post-warranty passenger cars above 4-metres with an entire range of services for aftermarket needs from automotive to lifestyle products.

The super app will provide vehicle service, emergency assistance, parts, insurance, payment platform, accessories, along with a wide range of service products. It also comes with a personalised travel map and a vault. Mileage booster will be launched next week.

Going forward, the super app will also act as a platform for used car sales along with leasing options. It is priced at ₹4,999 for a three-year subscription and will be available for customers from July 15.

"myTVS Life360 is a total car care product that connects the customer with his vehicle, a customer with myTVS network and its partners thereby enabling him to enjoy hassle-free ownership and usage of his car," he said.


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Printable version | Aug 12, 2022 1:34:49 am | https://www.thehindu.com/business/ki-mobility-eyes-1800-revenue-by-fy23/article65582489.ece