TVS Motor Company Announces Investment in Formula 1 Driver Narain Karthikeyan's Start-up "DriveX"

Speaking on the occasion, Narain Karthikeyan, Founder and CEO of DriveX said, "The pre-owned two-wheeler vehicle market is changing rapidly today. DriveX is a digital first business, serving all brands with unique analytics-led capabilities across the value chains. We have also been successful at launching new business models, including the subscription model in the pre-owned two-wheeler segment. In the coming years, DriveX will aim to strengthen its presence across India, followed by other geographies in due course. With this investment from TVS Motor Company, we are confident of expanding the DriveX vision, and delivering a pre-owned two-wheeler business that exceeds customer expectations."

Announcing the investment, Sudarshan Venu, Managing Director, TVS Motor Company, said, "The pre-owned two-wheeler market is largely unorganized today. It is delightful to see what DriveX has been able to create and deliver in short time. Narain and his team have built a unique platform that can scale up quickly. DriveX has a vision to bring a change in this segment by building trust, assurance, and transparency through end-to-end, high-quality products and customer experience through innovative solutions. We are confident of DriveX ability to deliver on this vision."

About TVS Motor Company

TVS Motor Company is a reputed two and three-wheeler manufacturer globally, championing progress through Sustainable Mobility with four state-of-the-art manufacturing facilities in Hosur, Mysuru and Nalagarh in India and Karawang in Indonesia. Rooted in our 100-year legacy of Trust, Value, and Passion for Customers and Exactness, we take pride in making internationally aspirational products of the highest quality through innovative and sustainable processes. We are the only two-wheeler company to have received the prestigious Deming Prize. Our products lead in their respective categories in the J.D. Power IQS and APEAL surveys.We have been ranked No. 1 Company in the J.D. Power Customer Service Satisfaction Survey for consecutive four years. Our group company Norton Motorcycles, based in the United Kingdom, is one of the most emotive motorcycle brands in the world. Our subsidiaries in the personal e-mobility space, Swiss E-Mobility Group (SEMG) and EGO Movement have a leading position in the e-bike market in Switzerland.TVS Motor Company endeavours to deliver the most superior customer experience across 80 countries in which we operate.

For more information, please visit www.tvsmotor.com

About Nkars Mobility Millennial Solutions Private Limited (NKMMS)

Co-founded in 2020 by Narain Karthikeyan, NKMMS operates under brand name "DriveX" is engaged in (i) leasing two-wheeler motorcycles and scooters and (ii) selling, trading, and distributing pre-owned two-wheeler motorcycles and scooters. NMMSPL operates a digital platform 'DriveX' which provides two-wheelers to customers on a sub-scription model for a flexible tenure and on a purchase model, along with certain ancillary services.

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