Turkish Airlines Received Three Financing Awards From ‘Airline Economics’.

Flag carrier brand received the "European Supported Finance Deal of the Year" and "European Overall Deal of the Year" awards while Turkish Airlines’ Member of the Board and the Executive Committee and Chief Financial Officer (CFO), Assoc. Prof. Murat ?eker won the "European CFO of the Year" award at the ceremony held by "Airline Economics" in London on 9th September.

Flying to more countries than any other airline, Turkish Airlines is able to extend its financier base geographically by taking advantage of cost efficiency while minimizing currency risks thanks to its diversified revenue structure. Recent addition of a new currency to its financing portfolio with the financing of three Airbus A350 aircraft in Chinese Yuan by AVIC International Leasing and CCB Financial Leasing was deemed worthy of “European Overall Deal of the Year” award.

Furthermore, Turkish Airlines’ financing of two Airbus A350 aircraft with an ECA guaranteed JOLCO structure in Japanese Yen provided by BNP Paribas & Citibank and NTT TC Leasing consortium received "European Supported Finance Deal of the Year" award, showing the airline’s well-established position in the Japanese market since 2007.

Turkish Airlines’ Member of the Board and the Executive Committee, and Chief Financial Officer (CFO), Assoc. Prof. Murat ?eker, was awarded with title of “European CFO of the Year.” This recognition underscores his financial leadership, strategic vision, and deep expertise, which have been central to Turkish Airlines’ sustained growth and success over many years. Assoc. Prof. ?eker’s contributions have not only strengthened the Turkish Airline’s financial health but also have supported its strategic initiatives, enabling the airline to excel in a competitive and volatile market environment. Starting his tenure as CFO of Turkish Airlines in 2016, he has been critical in optimizing financial operations, managing risks, and implementing forward-thinking strategies that have helped the company to achieve significant milestones and maintain its competitive edge on the global stage.

Representing the national flag carrier at the awards ceremony, Assoc. Prof. Murat ?eker said; “I am truly honored to receive these awards and grateful to be a part of the strong Turkish Airlines family. This recognition reflects the hard work and commitment of everyone at the airline and I am confident that the national flag carrier will continue to achieve every step towards its strategic goals."

Turkish Airlines aircraft financing team achieves one of the lowest financing costs in the airline industry with its experienced staff who has a comprehensive knowledge on a large array of aircraft financing structures. The national flag carrier has been deemed worthy of many financing awards by world-renowned organizations such as 'Global Transport Finance' and 'Airline Economics', ‘Airfinance Journal’, and ‘Bonds, Loans & Sukuk Turkey’ with its creative financing models, many of which have been implemented for the first time, since 2009.

Turkish Airlines has crowned its success in this regard, as having won 30 international aircraft finance awards in the last ten years for its successful executions amounting to approximately 16 billion USD.

Previous Awards

2024 Airline Economics - Global Lease Deal of the Year Award

2024 Airline Economics - JOLCO Deal of the Year

2024 Airline Economics - Supported Finance Deal of the Year

2023 Airline Economics - Asia-Pacific Lease of the Year

2022 Airfinance Journal - Europe Deal of the Year

2022 Airfinance Journal - Structured Lease Deal of the Year

2022 Airline Economics - Global Lease Deal of the Year Award

2022 Airline Economics - European Lease Deal of the Year

2020 Airline Economics - Lease Deal of the Year (Europe)

2020 Airline Economics - Supported Finance Deal of the Year (Europe)

2019 Bonds, Loans and Sukuk - Transport Finance Deal of the Year (Middle East)

2019 Airline Economics - Supported Finance Deal of the Year

2018 Airline Economics - Lease Deal of the Year

2018 Global Transport Finance - Tax Lease Deal of the Year

2018 Bonds, Loans and Sukuk - Transport Finance Deal of the Year (Middle East)

2017 Airfinance Journal - Tax Lease Deal of the Year

2017 Global Transport Finance - Unique Deal of the Year

2017 Bonds, Loans and Sukuk – Trade & Export Finance Deal of the Year (Middle East)

2017 Bonds, Loans and Sukuk - Transport Finance Deal of the Year (Middle East)

2017 Bonds, Loans and Sukuk - Structured Finance Deal of the Year (Middle East)

2015 Airfinance Journal - Capital Markets Deal of the Year

2015 Airfinance Journal - Tax Lease Deal of the Year

2015 Airline Economics - Editor’s Deal of the Year

2015 Airline Economics - European Deal of the Year

2015 Global Transport Finance - EETC Deal of the Year (Europe)

2015 Bonds, Loans and Sukuk – Trade & Export Finance Deal of the Year (Middle East)

2015 Airfinance Journal - Engine Deal of the Year 

Innovations

First airline to secure Chinese Yuan denominated aircraft financing outside of China (2024)

The first ever Itasca Re Insurance Covered Finance Lease (2023)

The first ever ACG Aircraft Financing Solutions (AFS) guaranteed Italian tax lease (2021)

The first ever UKEF guaranteed French tax lease (2020)

The first ever ACG Aircraft Financing Solutions (AFS) guaranteed finance lease (2019)

The first ever BALTHAZAR guaranteed French tax Lease (2019)

The first ever AFIC guaranteed Italian tax lease (2018)

The first ever SACE guaranteed French tax lease (2018)

The first ever AFIC guaranteed French tax lease (2017)

The first ever JPY denominated EETC JOLCO (2015)

The first ever US Ex-Im guaranteed French Tax Lease (2015)

The first ever EECA guaranteed Italian tax lease (2014)

The first ever Bond Convertible JPY Ex-Im guaranteed engine lease (2014)

The first ever US Ex-Im guaranteed JPY denominated Convertible Bond (2013)

The first ever EECA guaranteed JOLCO Lease (2011)        

The first ever EECA guaranteed Italian Tax Lease in JPY denomination (2014)

The first ever US Ex-Im guaranteed French Tax Lease (2015)

The first ever EECA guaranteed Italian tax lease (2014)

The first ever Bond Convertible JPY Ex-Im guaranteed engine lease (2014)

The first ever EECA guaranteed Italian Tax Lease in JPY denomination (2014)

About Turkish Airlines:

Established in 1933 with a fleet of five aircraft, Star Alliance member Turkish Airlines has a fleet of 462 (passenger and cargo) aircraft flying to 349 worldwide destinations as 296 international and 53 domestics in 130 countries. More information about Turkish Airlines can be found on its official website www.turkishairlines.com or its social media accounts on Facebook, X, YouTube, LinkedIn and Instagram. 

About Star Alliance:

Established in 1997 as the first truly global airline alliance, the Star Alliance network was founded on a customer value proposition of global reach, worldwide recognition, and seamless service. Since its inception, it has offered the largest and most comprehensive airline network, with a strong emphasis on enhancing the customer experience throughout the entire Alliance journey.

The member airlines are: Aegean Airlines, Air Canada, Air China, Air India, Air New Zealand, ANA, Asiana Airlines, Austrian, Avianca, Brussels Airlines, Copa Airlines, Croatia Airlines, EGYPTAIR, Ethiopian Airlines, EVA Air, LOT Polish Airlines, Lufthansa, Shenzhen Airlines, Singapore Airlines, South African Airways, SWISS, TAP Air Portugal, THAI, Turkish Airlines, and United.

Overall, the Star Alliance network currently offers 17,500 daily flights to over 1,150 airports in 189 countries. Further connecting flights are offered by Star Alliance Connecting Partner Juneyao Airlines.

Scaling India’s Renewables Beyond 1,500 GW Will Face Considerable Land, Water, Population, And Climate Challenges: CEEW

-India’s unconstrained RE potential exceeds 24,000 GW, but not all of it is achievable

-Odisha and Madhya Pradesh emerge as new states that can bolster India’s RE ambitions

-Green hydrogen production could reach 40 MTPA by 2050, but water management is critical

India has a renewable energy (RE) potential of over 24,000 GW, but even reaching the ~7,000 GW required to achieve net-zero emissions by 2070 will require a holistic approach to addressing challenges such as land access, climate risks, land conflicts, and population density, according to a new independent study by the Council on Energy, Environment and Water (CEEW). India currently has an installed RE capacity of 150 GW, and up to 1,500 GW, the constraints are relatively manageable.

The study, ‘Unlocking India’s RE and Green Hydrogen Potential: An Assessment of Land, Water, and Climate Nexus’, highlights that deployment beyond 1,500 GW could face critical challenges as multiple constraints intensify, narrowing the runway to reach the net-zero target. Renewable energy, including solar, wind, and green hydrogen, is crucial to realise India’s climate goals, but scaling up these technologies will require strategic land use, improved water management, and resilient power grid infrastructure.

The CEEW study is the first-of-its-kind to map India’s RE and green hydrogen potential by analysing the entire country’s landmass and applying real-world constraints. It does this by using detailed 5x5 km grid cells, which offer a more practical assessment of what can actually be developed and where. The CEEW study finds that population density significantly limits the realisation of India’s RE potential, with only 29 per cent of onshore wind potential and 27 per cent of solar potential located in areas with a population density lower than 250 people/km2. Land conflicts further restrict deployment, with only about 35 per cent of onshore wind potential and 41 per cent of solar potential located in areas free from historical land conflicts. However, earthquakes are less of a concern, as 83 per cent of onshore wind and 77 per cent of solar potential are located in low to moderate seismic zones.

The CEEW study also identifies states with high unconstrained RE potential such as Rajasthan, Madhya Pradesh, Maharashtra, and Ladakh. Rajasthan (6,464 GW), Madhya Pradesh (2,978 GW), Maharashtra (2,409 GW) and Ladakh (625 GW) have significant low-cost solar potential, while Karnataka (293 GW), Gujarat (212 GW), and Maharashtra (184 GW) offer considerable wind potential.

Dr Arunabha Ghosh, CEO, CEEW, said, “India stands at a pivotal juncture in its energy transition. It has set out to do the near impossible: provide energy access to millions of people, clean up one of the world’s largest energy systems, and become a green industrial powerhouse. While our RE potential is vast, the road to net zero is fraught with challenges. From land conflicts and population density to the unpredictable but undeniable impact of climate change, every step forward will demand resilience and innovation. The CEEW study, for the first time, goes into granular details of the county’s landmass to map out where we can build out renewable energy and green hydrogen projects while addressing the challenges of land, people, and compounding, non-linear climate risks. The scale of the task ahead is monumental, yet it is precisely this challenge that will define India’s legacy as a trailblazer for the Global South—a country that charts a low-carbon pathway to prosperity against all odds.”

Notably, the CEEW study highlighted that Odisha and Madhya Pradesh, with high RE potential backed by land banks and infrastructure to evacuate renewable power and manage seasonality, could emerge as key players in meeting India’s renewable energy ambitions in the coming decades. Further, a considerable portion of India’s RE potential is in high-climate-risk and high-land-price areas—only 18 per cent of onshore wind potential and 22 per cent of solar potential are located in areas with low climate risks and low land prices, when looked at in isolation. However, the challenges to realising this potential increase too when other constraints such as population density, land conflicts and seasonality of solar power are factored in.

Hemant Mallya, Fellow, CEEW, said, “Land and water are critical resources for scaling up RE and green hydrogen in India. Prevention of desertification and innovative solutions to address land availability, such as agro-voltaics in horticulture and rooftop solar in dense Indian cities, will be essential. Moreover, as RE projects move into areas with higher climate risks, insurance companies could increasingly hesitate to provide coverage. Involving all stakeholders in the early stage of renewable project development and addressing climate risks will help ensure projects are commercially viable in the long run.”

Green hydrogen could also become very important to India’s clean energy transition. The CEEW study estimates that the country could produce around 40 MTPA at a cost lower than USD 3.5/kg. Water availability and management impact the cost of green hydrogen projects. This cost is expected to decrease further with advancements in electrolyser technology and more efficient RE systems. Low-cost green hydrogen could be produced in western and southern India, with Gujarat leading the production with an estimated potential of 8.8 MTPA at less than USD 3.5/kg, followed by Karnataka and Maharashtra with 5 MTPA each.

Finally, the CEEW study recommends a comprehensive approach that includes all stakeholders to ensure that India’s ambitious RE and green hydrogen targets are met sustainably and equitably. First, validating potential using higher-quality data and on-ground assessments is crucial, as current data may not fully reflect real conditions. States should establish graded land banks that consider RE quality, water availability, and proximity to infrastructure to ensure rapid project development. Evaluating and enhancing grid infrastructure and resilience are essential, particularly in regions with high RE seasonality, to support large-scale deployment. Additionally, revising water management policies to prioritise energy production and assessing the need for surface water storage will be vital to sustaining green hydrogen production and mitigating resource challenges.

Limitations: The accuracy of CEEW’s analysis is limited by certain constraints – circle rates usage for estimating market price, lack of data on social and cultural aspects related to land, lack of power grid mapping to determine RE evacuation potential, and use-modeling to estimate levelised cost of electricity and green hydrogen.

A CEEW Interactive — The Great Indian RE Challenge is an explainer to understand how multiple challenges could emerge simultaneously as India ambitiously scales up its renewable energy capacity. Play it here.

Video — Every Question You Wanted to Ask on India’s Road to Net Zero: Watch this video to understand how these findings could shape India’s renewable energy future.

Study — Read ‘Unlocking India’s RE and Green Hydrogen Potential: An Assessment of Land, Water, and Climate Nexus’ by Hemant Mallya, Deepak Yadav, Anushka Maheshwari, Nitin Bassi, and Prerna Prabhakar here.

About CEEW

The Council on Energy, Environment and Water (CEEW) is one of Asia’s leading not-for-profit policy research institutions and among the world’s top climate think tanks. The Council uses data, integrated analysis, and strategic outreach to explain — and change — the use, reuse, and misuse of resources. The Council addresses pressing global challenges through an integrated and internationally focused approach. It prides itself on the independence of its high-quality research, develops partnerships with public and private institutions, and engages with the wider public. CEEW has a footprint in over 20 Indian states and has repeatedly featured among the world’s best-managed and independent think tanks. Follow us on X (formerly Twitter) @CEEWIndia for the latest updates.

MAGGI Crafts New ‘Happy Bowl’ With Love: Delightful Noodles For Young Ones!

Continuing with its spirit of culinary innovation, MAGGI has unveiled the Happy Bowl. The new product combines irresistible taste with goodness of atta, and is a source of protein, calcium, vitamin A, and fiber. Available in two delightful flavours, 'Yummy Masala' and 'Twisty Tomato,' this new offering is crafted to delight young palates while embodying MAGGI’s commitment to delivering great taste through innovation.

Mr. Rajat Jain, Director, Foods Business at Nestlé India, shared his enthusiasm for the new product and said, “At MAGGI, we are deeply passionate about the food we create, and MAGGI Happy Bowl holds a truly special place in our hearts. It promises to continue MAGGI’s legacy of creating beloved products for everyone in the family and provide them with more options. MAGGI Happy Bowl is our offering for the kids and a gift to moms, offering joyful simplicity in every bite”

Supporting the launch, MAGGI has rolled out a comprehensive marketing campaign that spans TV, digital media, print, and outdoor advertising across major cities. The campaign highlights the dual appeal of great taste and goodness, aiming to make the Happy Bowl a new favorite at family tables.

SMART Technologies Launches in Bangalore With Transformative Interactive Displays For Education

SMART Technologies, a global leader in interactive technology, announced its launch in the Bangalore market. The company also unveiled the SMART Board MX Series® and SMART Board GX Series® interactive displays. With over 35 years of global experience in the interactive technology market along with local distribution partners, Indian manufacturing and tailored local education content, SMART is uniquely positioned to support Indian schools with locally-made, outcome-focused technology that will support the transformation of India’s education environments.

SMART’s interactive displays and software are created to bring learning to life with easy-to-use features that save teachers time and engage students in their learning. They’re engineered in-house at SMART with unique features and options – including SMART iQ® with the MX Series. This designed-for-education embedded computing solution is easy to use from day one. SMART displays have multiple options for student engagement and upgradability options that are unique in the market, and they use less power than other brands. SMART displays are not only built to last but to evolve with the needs of the classroom.

The company is establishing manufacturing locally in India, not only enhancing its production capabilities but also reinforcing its dedication to the Indian market. SMART is working with one of India’s largest Electronic Manufacturing Services (EMS) have chosen partners with established and proven capability for production of Interactive Flat Panels to meet their exacting quality standards This local work represents a significant step in optimizing supply chains, increasing local manufacturing efficiency, and fostering economic growth within the region.

Nicholas Svensson, President & Chief Executive Officer, stated, “As pioneers and leaders in the interactive touch technology space, our launch in India is a testament to our commitment to this dynamic market. Our promise is to help teachers, students, and education leaders create connections that matter, and we’re thrilled to bring this promise, and our leading products, to the millions of students and teachers here in India.  Needless to say, SMART is here to stay and we look forward to working with schools and organizations across the country.”

The brand also acknowledged Sense Kaleidoscope Bengaluru as a SMART Exemplary Schools. Recognized for its exceptional use of technology, Sense Kaleidoscope has earned a prestigious designation, joining a global community of just 35 schools. It is the third school in India to receive this honor and the only one dedicated specifically to students with autism. Through SMART technology, the school ensures to bridges the gap between students and teachers, making education more accessible, engaging, and enjoyable for everyone involved.

About SMART:

SMART Technologies is a pioneering force in the development of interactive technology solutions. Renowned for SMART Board® interactive displays and comprehensive software offerings, the company is dedicated to creating engaging and collaborative learning and working environments, creating connections that matter for users the world over since 1987. With a focus on quality, innovation, and customer satisfaction, SMART Technologies continues to drive advancements in education and business technology worldwide. To learn more, visit www.smarttech.com.

Swami Atmashriddhananda Delivers An Inspirational Lecture On "Overcoming Stress – The Vivekananda Way" At MIT

Swami Atmashriddhananda, Head of the Ramakrishna Mission Ashrama, Kanpur, inspired students, faculty, and staff at the Manipal Institute of Technology (MIT) with his lecture titled “Overcoming Stress – The Vivekananda Way”.

The event began with a warm welcome from Dr. Shankaranarayana Bhat, Associate Director (Faculty Development), followed by an introduction of the guest by Dr. K. Balakrishna, Professor in Geology, Cdr. (Dr) Anil Rana, Director, MIT, Manipal , Dr. Somashekhara Bhat, Joint Director,  and faculty members, students, and staff, were present for the enriching session.

During his address, Swami Atmashriddhananda emphasized the importance of filling the mind with great ideas and drawing inspiration from the lives and teachings of great people. He highlighted the impact of Automatic Negative Thoughts (ANTS), which often lead to self-criticism and lack of motivation, ultimately turning individuals pessimistic. He warned against the detrimental effects of self-pity, explaining that it weakens the mind and exacerbates stress.

Drawing from Swami Vivekananda's philosophy, Swami Atmashriddhananda offered practical advice to overcome stress, including the observation and detachment from negative thoughts. He encouraged the audience to practice meditation, deep breathing techniques, and reading inspiring literature. Furthermore, he underscored the importance of living a life of goodness and service, noting that being good and doing good for others can help maintain positivity and reduce stress.

Dr. K Balakrishna, Professor of Geology, delivered the vote of thanks. The lecture received an enthusiastic response from the attendees, who appreciated Swami Atmashriddhananda's practical and insightful approach to addressing stress. His teachings, grounded in the philosophy of Swami Vivekananda, offered actionable steps that resonated deeply with both students and faculty, leaving them inspired and motivated to incorporate these techniques into their everyday lives.

IEEE Photonics Chapter Inaugurated At Manipal Institute of Technology (MIT) Bengaluru: A New Era For Light Science And Technology

The Department of Electronics and Communication Engineering (ECE) at Manipal Institute of Technology MIT Bengaluru, in collaboration with the IEEE Student Branch, proudly announces the inauguration of the IEEE Photonics Chapter. This significant milestone marks the beginning of a new chapter in the exploration and application of photonics technology.

Prof. (Dr.) Madhu Veeraraghavan, Pro Vice Chancellor, MAHE Bengaluru, Dr. Iven Jose Director, MIT MAHE Bengaluru, Dr. Ujjwal Verma, HoD, ECE, MIT MAHE Bengaluru along with chief guests Dr. Srinivas Talabattula Professor, ECE Indian Institute of Science, Bengaluru IEEE Bangalore Section, Chair graced the event with their presence. 

Photonics, a vital branch of optics, involves the generation, detection, and manipulation of light in the form of photons. This field, closely related to quantum electronics, focuses on the practical engineering applications of light. As we stand on the cusp of a photonics revolution, the impact of photonic devices on our daily lives becomes increasingly evident. From LEDs and laser diodes to advanced imaging and sensing technologies, photonics is driving innovation across a wide array of applications.

The IEEE Photonics Society, a global leader with over 100,000 professionals, is at the forefront of translating breakthroughs in quantum physics into transformative devices and systems. By organizing technical conferences, publishing cutting-edge research, and developing industry standards, the Society plays a pivotal role in advancing the field.

The newly inaugurated IEEE Photonics Chapter at MIT Bengaluru aims to foster collaboration, research, and development in photonics. The chapter will serve as a vibrant hub for students, researchers, and professionals to explore the latest advancements in light science and technology.

Prof. (Dr.) Madhu Veeraraghavan, Pro Vice Chancellor, MAHE Bengaluru said "The inauguration of the IEEE Photonics Chapter at MIT Bengaluru is a landmark event that will undoubtedly propel the field of photonics to new heights. This chapter will serve as a beacon for innovation, bringing together bright minds to tackle the challenges and opportunities in light science for the students.”

Dr. Iven Jose Director, MIT MAHE Bengaluru, added, "Photonics is more than just a branch of science; it is the foundation of many technologies that impact our daily lives. The establishment of this chapter provides an excellent platform for students and researchers to delve into photonics, drive forward discoveries, and contribute to the ever-evolving landscape of light technology."

Dr. Srinivas Talabattula, Professor, ECE, Indian Institute of Science, Bengaluru, and IEEE Bangalore Section Chair, said “The inauguration of the IEEE Photonics Chapter at institutions like MIT Bengaluru is a significant step towards strengthening the photonics community. This chapter will serve as a platform for fostering research and innovation in integrated optics, which aims to develop various optical components on a single substrate, much like integrated electronics. By focusing on technical advancements such as modulators, waveguides, and fabrication devices, we can accelerate the development of next-generation photonic systems and their applications across multiple industries”

Dr. Ujjwal Verma, Head of the Department of Electronics and Communication Engineering, MIT MAHE Bengaluru, stated “ The inauguration of the IEEE Photonics Chapter at MIT MAHE Bengaluru represents a significant leap forward for our institution and the broader scientific community. This chapter will be a catalyst for fostering innovation and collaboration in the field of photonics, bridging the gap between theoretical research and practical applications. We are excited to see our students and faculty contribute to advancements in light science and technology, further solidifying MIT MAHE Bengaluru's role as a leader in cutting-edge research and development.”

The IEEE Photonics Chapter at MIT Bengaluru will actively engage in research, development, and standardization efforts, supporting the IEEE Photonics Society's mission to advance technology for the benefit of humanity.

About Manipal Academy of Higher Education Bengaluru (MAHE B’LRU):

Established in 1953, Manipal Academy of Higher Education (MAHE) is an Institution of Eminence and a Deemed to be University. With a remarkable track record in academics, state-of-the-art infrastructure, and significant contributions to research, MAHE has earned recognition and acclaim both nationally and internationally. In October 2020, the Ministry of Education, Government of India, honoured MAHE with the prestigious designation of Institution of Eminence Deemed to be University. Currently ranked sixth in the National Institutional Ranking Framework (NIRF), MAHE is the preferred choice for students seeking a transformative learning experience.

MAHE Bengaluru, an off-campus of MAHE, excels in delivering comprehensive education to students, supported by highly qualified faculty, and dedicated mentors. The MAHE Bengaluru campus has an inspiring, future relevant learning ecosystem, on a new age tech enabled living campus. Here, the students immerse themselves, transform and discover multiple choices and opportunities. At MAHE Bengaluru, the potential for growth and the opportunities available are boundless.

DriveX Targets Rs 100 Crore In Revenue For FY25, Expanding Its Retail Presence From 57 To 130 By 2025, With Plans To Reach 500 By 2027

DriveX, India's first and largest digital-first auto-tech platform for two-wheelers as good as new, recently launched their 8th company-owned and operated store in Chennai, which raises the total number of retail stores to 57. They also announced a sharp rise in revenue for FY24. With an aggressive plan for network expansion, DriveX has set the revenue target for FY25, expanding its retail touchpoints from 57 to 130 by May 2025 and 500 by 2027. 

“We plan to double our retail touch points from 57 to 130 by May 2025," said Narain Karthikeyan, Founder and Managing Director, DriveX Mobility. “Presently we are retailing about 2,500 used vehicles a month, a huge jump from 25-30 vehicles, which were sold just a couple of years ago. We have identified twice as much demand and are taking the necessary measurements to meet the growing demand.," he added. 

TVS Motor Company owns 48% of DriveX, which has emerged as a major player in the pre-owned two-wheeler market. This year, the company inaugurated its 57th retail touch point in Chennai, marking the latest in a series of aggressive growth stories showcased by the company. "The Chennai store is an important hub for our South India operations, and we are using the rich automotive heritage of the city to enhance our service and scale up further," he added. 

DriveX plans to scale its presence in key northern markets as part of its expansion drive. "Though we have a tiny footprint in the NCR region, we have in our pipeline to establish our refurbishment center in Ghaziabad, which will enable us to get better traction and improve service quality in this market," said Karthikeyan. 

In addition to expanding the retail with a product portfolio of top-quality refurbished two-wheelers, DriveX also offers a specially formulated oil for pre-owned engines. "This is getting good reception and is driving extra market traction," says Karthikeyan. Biking accessories have also emerged, adding another dimension to the company's customer offering. 

Technology remains an important enabler in the growth of DriveX. The company has also developed in-house apps that streamline the vehicle procurement process and make customer interaction much more seamless, resulting in a smooth buying experience for refurbished two-wheelers. This is part of DriveX's strategy to keep them ahead of the curve in a rapidly changing marketplace. 

This ambitious roadmap for DriveX envisages a pan-India presence with 500 retail outlets by 2027. DriveX is well on its way to transforming the refurbished two-wheeler market across the country, with a strategic focus on innovation, expansion, and customer satisfaction.

About DriveX:

DriveX Mobility Pvt Ltd is India’s first and pioneering digital-first auto-tech platform in the pre-owned two-wheeler category that caters to the unique needs of the affordable mobility sector in India. The company was formed by leveraging decades of automotive expertise of its founder, Narain Karthikeyan. DriveX provides top-quality refurbished two-wheelers to its customers while making the buying experience easy and hassle-free. The company employs a dual business model, utilizing franchise and company-owned, company-operated (COCO) showrooms for top-quality refurbished two-wheelers. DriveX's unique value proposition extends beyond the simple sale of pre-owned two-wheelers. It revolves around three key strategies: technology-driven sourcing for scalability, a digital platform facilitating efficient pricing and vehicle discovery, and flexible ownership options achieved through strategic financing partnerships.