TVS Automobile Solutions June 10  announced it has made investments in three startups (e-commerce, BIG DATA / Analytics & CRM and Internet of Things) to form a start-up ecosystem for its digital initiatives where it will provide digital business solutions to vehicle and component manufacturers in the $9.5 bn aftermarket space.

TVS ASL made investments in Jazzmyride.com, Autosense and Redsun.

Says G. Srinivasa Raghavan, Executive Director, TVS Automobile Solutions.“TVS ASL is uniquely positioned in providing both digital technology solutions and brick & mortar infrastructure in addressing the needs of manufacturers. Digital technologies help in enabling transparency in supply chain, visibility of consumption and therefore help them customize products and services towards market needs. We have invested about INR 75 crores in tech startups as they bring in emerging tech solutions. TVS ASL will help them with domain, scale and profitability. We expect these businesses to generate revenue of INR 250 crores in the next 3 years.”

He further added, “We have taken the leadership in transforming Indian automotive aftermarket bycreating an ecosystem of retailers, garages & fleet wherein each stakeholder is benefited in terms of growth, efficiencies and profitability by actively participating in the value creation for end customers.”

At present, Indian automobile aftermarket provides a complex picture for manufacturers with over 150 million vehicles outside warranty period that are being served by thousands of garages and retailers. The visibility of consumption will not only help manufacturers customize marketing solutions but also define & design new products and services for higher market share and profitability, the company said.

Source: Economic Times