TVS Motor Company has been making inroads in the media recently. In what came in as sensational news, the Chennai based automaker has recently inked a deal for INR 15 crores with advanced fleet management solutions provider Intellicar Telematics for acquisition. Sources at the Bengaluru based Intellicar have confirmed the statement.
Given the pandemic scenario, this pact has created waves among the entire Auto industry, making headlines and its shares heading for a bull run. Additionally, group companies at TVS too can harness these technological solutions to their added advantage. According to internal sources at TVS, the acquisition and other compliances shall be fulfilled by the end of December 2020.
Based on this historic nuptial, the technology major shall contribute its intellectual wealth of robust analytics and data management to the Auto Major, lending an aggressive momentum to the latter’s voluminous digital endeavors that shall translate into an altogether surreal customer experience. Looking back in the history of Intellicar, the company was founded in February 2015, integrating the IoT Technology model and has fetched a whopping revenue of INR 16.10 crores in the Year 2019-20 as against INR 9.66 crores in the year 2017-18.
Through its mobile app, the two-wheeler maker has set in motion the Augmented Interactive Vehicle Experience (ARIVE), which facilitates a deeper penetration into its product portfolio by customers making it accessible anytime, anywhere. The Motor behemoth has also capitalized on various online marketplace solutions like RentOnGo to rent bikes and other appliances. Recently, TVS has invested considerably through its Singapore arm, including electric bike maker Ultraviolette Automotive.
With enhanced surveillance and monitoring across the supply Chain, TVS has signed up with Tagbox Solutions Ltd, Singapore-based Tagbox Pte Ltd, and US-based Predictronics Inc. This epic pact delivers a complete gamut of AI-driven maintenance solutions. All these mega-nuptials stem from the fact that TVS owns massive data and needs robust management systems for which it is dependent on external partnerships creating a data pool. Companies like Altizon Inc. having a stake of 14.1%, contribute by way of value addition in the manufacturing chain, making systems for TVS more cost-efficient. Restructuring the risk and credit analysis portfolio, the alliance of TVS Motor with Scienaptic Systems drives growth via an AI platform, “Ether.”