India-based used motorcycles marketplace DriveX has launched six physical outlets in the states of Karnataka and Tamil Nadu in the south of the country. According to an AutoCarPro report, these are a mix of company-owned and franchised outlets.

Founded in 2020 by Narain Karthikeyan — its managing director, who is best known as the first Indian to compete in Formula 1 — DriveX procures, refurbishes and then sells on used motorcycles — a c-to-b-to-c model.

Karthikeyan commented: “We are thrilled to extend our reach in Tamil Nadu and Karnataka, providing more customers with access to our top-quality, refurbished vehicles and unparalleled customer service.”

DriveX’s growth spurt began in August 2022, following an INR850 million ($10.1 million U.S.) investment from motorcycle manufacturer TVS Motors, which now holds a 48.3% stake in the company. Its first refurbishment center — capable of processing up to 400 motorcycles a month — was launched in Coimbatore in February 2023. By October 2023, DriveX’s store count had reached 30.

Print Friendly, PDF & Email

Related Articles