Automobile service provider TVS Automobile Solutions has inked a pact with US based The Warranty Group for providing warranty to vehicles across various segments.
TVS Automobile Solutions, Director, R Dinesh exchanged documents with The Warranty Group President and Chief Executive Officer Tom Warsop at a function here today.
"This is perfect partnership as it brings TVS in-depth knowledge in India and proprietary analytical tools and capability of TWG together...," Dinesh said in a statement.
Besides, the joint venture would also help expand the business into other markets in Asia, he said.
The joint venture company -- TVS TWG a 51:49 partnership, aims to seize the potential in the automobile sector and targets to cover 50,000 vehicles in first year and one million vehicle in next five years, he said.
Through this joint venture, TVS-TWG Warranty Solutions would bring in new products to customers that include vehicle maintenance, comprehensive and annual maintenance programme.
The joint venture with The Warranty Group is the second overseas joint venture for Chennai-based TVS Group company, after it inked a similar pact with Myers Tire Supply, last year, the release said.
