TVS Motor acquires 48.27% stake in Narain Karthikeyan’s startup DriveX for INR 85 Cr

Indian two-wheeler manufacturer TVS Motor Company said it has acquired a 48.27% stake in pre-owned two-wheeler platform DriveX for INR 85.41 Cr. The investment will enable DriveX to further scale up offerings in the used bike space and to drive innovative solutions to corner a bigger pie of the pre-owned two-wheeler market. DriveX also plans to use the funding to expand its footprint to other cities in the coming years.