As a part of a brand new cope with Mahindra and Mahindra, the Mahindra First Choice Services will now develop into a subsidiary of TVS Automobile Solution, whereas in flip, Mahindra will safe a stake within the latter’s firm.
Mahindra and Mahindra will safe a stake in TVS Automobile Solutions as a part of the brand new partnership
Mahindra and Mahindra has introduced coming into a brand new partnership with automotive aftermarket participant TVS Automobile Solutions to combine its service arm, the Mahindra First Choice Services (MFCSL). As a part of the deal, Mahindra First Choice Services will now develop into a subsidiary of TVS Automobile Solution, whereas in flip, Mahindra will safe a stake within the latter’s firm. Mahindra says that this transfer will allow each corporations to “combine their strengths to organise the highly fragmented automobile aftermarket services space in India.” The partnership may also give Mahindra First Choice Services entry to ‘myTVS,’ a multi-brand unbiased vehicle aftermarket model that provides built-in options throughout the aftermarket worth chain.
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Commenting on the partnership, R. Dinesh, Director, TVS Automobile Solutions stated, “India’s $10 bn aftermarket segment is fragmented and needs strong support for relevance and growth amidst changing technology landscape in the automotive sector. We would take this opportunity to bring thousands of entrepreneurs into a digital platform wherein they can get benefited from digital technologies across marketing, diagnostics, customer experience, quality parts, access to training and digital payments. I am sure this partnership will be a win-win proposition for all the stakeholders.”
Sharing his views on the partnership, V S Parthasarathy, President, Mobility Services Sector, Mahindra Group stated, “I believe that consolidation, scale and phygital solutions will drive the next phase of growth for the company as well as the industry. I am confident that a strong partner like TVS ASPL will help take our legacy further and propel the company to the next orbit. I applaud the commitment and passion of our franchisees, distributors and employees and seek their support as we embark on the next phase of the journey.”
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TVS Automobile Solution says that with myTVS, it has created a digital platform and ecosystem for over 2,500 garages particularly throughout South India, and with MFCSL, the corporate goals to create a pan India digital footprint. TVS Automobile Solution says that it’ll proceed to take a position and increase its community to over 10,000 garages within the subsequent 18-24 months. MFCSL at the moment has a pan-India community of 475+ franchise companions and 100+ distributors current in over 350 cities throughout 25 states and a pair of union territories. With this partnership, TVS ASL ensures supply of service or components inside 24 hours throughout the nation.