India’s largest digital automotive aftermarket platform myTVS on Monday announced its entry into EV mobility service with the launch of pan India ‘Mobility-as-a-Service’ (MaaS) to provide end-to-end vehicle management solutions to quick commerce and e-commerce firms which extensively use electric two-wheelers.
Instead of owning their own vehicles, fleet operators, e-commerce and quick commerce companies will be able to avail the services of myTVS now.
MyTVS, which is a part of the $3 billion TVS Mobility Group, plans to add 10,000 electric two-wheelers to its fleet by March next year as it takes on players like Uber and Avis.
The platform brings in the entire ecosystem partners, including original equipment manufacturers, to provide an extensive range of services under one umbrella for the entire EV fleet life cycle.
From leasing to real-time fleet management, servicing, spare parts management (supported by a digital catalogue of 1.8 lakh SKUs), charging solutions (including portable chargers and myTVS charging stations), telematics, roadside assistance, insurance, and tyre management, the platform ensures seamless operations of the fleet. Additionally, the platform also offers vehicle refurbishment services to extend fleet life and efficiency.
According to the company, myTVS, through its ‘MaaS’ platform, will become the destination brand for last-mile fleet operators and help them grow faster with their customers.
This end-to-end service platform, through its strategic tie-ups with all stakeholders, will offer customised solutions digitally for quick commerce players. As part of the launch, myTVS has made a strategic partnership with MoEVing, a leading EV-based logistics company in India.
This move by myTVS will mark a significant milestone in the company’s journey, transitioning from personal mobility to fleet mobility solutions. The quick commerce business in India is a rapidly growing segment that will need to be electrified to meet the sustainability goals of business entities.
The ‘MaaS’ platform by myTVS will offer plug-and-play solutions to accelerate the electrification of vehicles at the same time enabling them to deliver superior performance. Additionally, this initiative will support the government’s push towards faster EV adoption and green mobility.
G Srinivasa Raghavan, Managing Director of myTVS said, “The ‘MaaS’ platform is designed to meet the evolving needs of both personal mobility and fleet mobility customers, delivering efficiency and ensuring sustainability. The quick commerce companies are exploring electric vehicle fleets to optimise costs and meet their sustainability goals, and myTVS is well-positioned to lead this transition.”
“We are the only service network with a strong pan India presence with over 1000 outlets to provide seamless service delivery across the nation under one platform for fleet operators. Besides, our extensive service offerings like, 24/7 telematics, Network Operations Centre (NOC) and diagnostic services will ensure maximum vehicle uptime. This will also bring the cost economics into play, providing a win-win solution for both the OEMs and the operators,” he added.
According to a report by Blue Weave consulting, India’s Mobility as a Service (MaaS) market size was estimated at $ 0.87 billion in 2023. Between 2024 and 2030, the size of the MaaS market is projected to grow at a CAGR of 32.39 per cent reaching a value of $ 4.71 billion by 2030. Major companies in the segment includes Avis Budget Group, movmi Shared Transportation Services Inc., Uber Technologies Inc., ANI Technologies Pvt. Ltd., Lyft Inc., Aptiv, Roppen Transportation, and Quick Ride, the report said.
Vikash Mishra, chief executive officer, MoEVing, said, “At MoEVing, we have always believed that building the right ecosystem partnerships is key to accelerating EV adoption in India. The launch of the ‘MaaS’ platform by myTVS addresses a critical need in the market, offering a comprehensive solution that aligns with our mission. By leveraging myTVS’s extensive service network and technology, this collaboration will allow us to provide customers better service while expanding our national footprint.”
A recent report by BCG highlights that the organised last-mile delivery market, particularly in food, grocery and e-commerce, is expected to grow at a CAGR of 15-20 per cent over the next five years. By 2025, EV adoption will increase significantly in organised last-mile delivery fleets, with 20-30 per cent adoption across two-wheelers, three-wheelers and four-wheelers.
Raghavan further added, “With over 1 million customers across India, myTVS is one of the fastest-growing aftermarket service providers in India. We aim to add another 2500 outlets in the next two years and grow our market share to 10-12 per cent.”
The myTVS mobility platform is flexible and allows for integration of not only with OEM manufacturers but also with insurance providers, financial service partners, and leasing companies, making it an adaptable solution for all stakeholders in the EV ecosystem. This collaborative approach ensures the platform’s scalability and provides end-to-end support for electric mobility.
First Published: Sep 23 2024 | 2:37 PM IST