Legacy companies in the mobility space are collaborating with and even acquiring young startups to explore opportunities in the future of mobility. Companies like Mahindra and Mahindra, Hero MotoCorp, RPG Enterprises, and Gulf Oil are joining forces with startups such as Ather Energy, Charge+Zone, Tyresnmore.com, Koovers, and Tirex to tap into the potential of electric vehicles (EVs) and the e-commerce sector.
These collaborations aim to leverage synergies in the rapidly evolving mobility space. Factors such as new business opportunities, digitalization, the pursuit of increased efficiencies, the push for zero emissions, and the demand for sustainable technologies are driving these partnerships between legacy companies and startups.
One area of collaboration is the scaling up of the EV charging infrastructure. Mahindra has partnered with Charge+Zone and Statiq to develop an extensive network of EV charging stations. This move is in line with Mahindra’s focus on battery and technology as it prepares to launch a range of electric SUVs in India.
Similarly, Hero MotoCorp has entered into a partnership with Ather Energy to create an interoperable fast-charging network in India. This collaboration allows riders to use the charging grids of either company, providing them with access to over 1,900 fast-charging points initially, with plans to expand to over 3,000 by 2030.
In the e-commerce space, RPG Enterprises has acquired Tyresnmore.com, an e-retailer of tires and batteries. This acquisition allows RPG Enterprises, through its flagship company Ceat, to enhance its presence in the automotive aftermarket sector. Tyresnmore.com, which has witnessed significant growth in the B2C segment, provides consumers with a wide range of brands and offers doorstep delivery and fitment services.
Additionally, Schaeffler India has acquired Koovers, a spare parts platform catering to over 7,000 workshops and offering a portfolio of approximately 1.8 million parts. This acquisition supports Schaeffler India’s expansion strategy in the digital space and positions the company to capitalize on the anticipated growth in digital penetration in India’s auto aftermarket.
As legacy companies seek to strengthen their presence in the EV market, Gulf Oil has acquired Tirex Transmission, an EV charger maker. This strategic move aims to establish Gulf Oil as a leader in the charging ecosystem, which is projected to be valued at USD 20 billion in India and is expected to exceed USD 200 billion by 2030.
Through these collaborations and acquisitions, legacy companies are paving the way for a future of sustainable and efficient mobility. By harnessing the innovative ideas and technologies of startups, these established players are positioning themselves at the forefront of the evolving mobility landscape.
The mobility industry is evolving at a rapid pace, and these alliances between legacy companies and startups represent a crucial step towards capitalizing on emerging opportunities. As the demand for electric vehicles and sustainable technologies continues to grow, the collaboration between established players and young startups will play a vital role in shaping the future of mobility.
