A pre-owned two-wheeler platform called DriveX Mobility was founded by longtime friends Narain Karthikeyan and Christopher Anand Sargunam, the first driver from India to compete in Formula One. TVS Motor has increased its investment in this company.

DriveX Mobility is a digital-first auto-tech platform that was founded in April 2020 and focuses on the acquisition, restoration, and retailing of secondhand motorcycles.

The automaker has finished acquiring 7,914 equity shares, or 39.11% of DriveX's total issued capital.

DriveX is now a subsidiary of TVS Motor, with TVS Motor holding 87.38% of the company following this transaction.

It is anticipated that the acquisition will increase TVS Motor's market presence and operational efficiency in the two-wheeler trading sector.

Although financial details are not available, the action highlights TVS Motor's plan to increase its market share in the rapidly expanding pre-owned two-wheeler industry.

The business runs its franchisee-operated (FOFO) and company-owned (COCO) locations. DriveX offers engine oils, accessories, and spare parts in addition to refurbished cars, making it a one-stop shop for clients wishing to purchase or maintain used two-wheelers.

This most recent investment reflects TVS Motor's long-term goals for the used car market and builds on the automaker's earlier August 2022 acquisition of a 48.27% stake in DriveX's parent company.

TVS Motor aims to provide dependable and reasonably priced mobility solutions to a broad customer base by incorporating DriveX's distinct digital and retail model.