TVS to acquire 48% stake in Narain Karthikeyan's two-wheeler startup DriveX
The company said it will acquire 48.27 percent stake in NKars Mobility Millennial Solutions Pvt Ltd (NMMSPL), which operates under the brand 'DriveX', through primary and secondary investments. Founded by Formula 1 driver Karthikeyan, DriveX is into leasing of two-wheeler motorcycles and scooters and selling, trading, and distributing pre-owned two-wheeler motorcycles and scooters.
DriveX Founder and CEO Karthikeyan said DriveX is a digital first business, serving all brands with analytics-led capabilities across the value chains. Pic: tvsmotor.com and drivex.in