Chandigarh, 26 November, 2020: Mahindra First Choice Services Ltd. (MFCSL), a pan-India chain of multi-brand car and two-wheeler service workshops, part of the $19.4 bn Mahindra Group, today announced a plan to integrate its operations with TVS Automobile Solutions Pvt. Ltd., (TVS ASPL), India’s leading independent automotive aftermarket player. The move will enable the respective organisations to combine their strengths to organise the highly fragmented automobile aftermarket services space in India, thereby providing superior value to customers, channel partners, employees and other stakeholders.

MFCSL will partner with TVS Automobile Solutions, which houses ‘myTVS,’ a multi-brand independent automobile aftermarket brand that offers integrated solutions across the aftermarket value chain. As part of the transaction, Mahindra and Mahindra Ltd. will secure a stake in TVSASPL and in turn, MFCSL will become a subsidiary of TVS ASPL. The transaction is subject to regulatory approvals, including an approval from the Competition Commission of India (CCI).

Mr. V S Parthasarathy, President, Mobility Services Sector, Mahindra Group said, “MFCSL has developed a large, trusted, multi-brand car service franchise and distribution network over the years. Our focus on quality and customer satisfaction has ensured that we continue to deliver superior value to our customers and channel partners. I believe that consolidation, scale and phygital solutions will drive the next phase of growth for the company as well as the industry. I am confident that a strong partner like TVS ASPL will help take our legacy further and propel the company to the next orbit. I applaud the commitment and passion of our franchisees, distributors and employees and seek their support as we embark on the next phase of the journey.”