Automobile service provider TVS Automobile Solutions Ltd (TASL) has announced a joint venture (JV) with US-based The Warranty Group (TWG).
The JV would offer comprehensive warranty solutions, such as extended warranty, for vehicles in tie-up with original equipment manufacturers and dealers. While the knowhow for the business would be from TWG, the regional expertise, customer relationship and administration would be from TASL, which operates through its brand MyTVS.
TASL would have a 51 per cent holding while TWG would have 49 per cent in the JV - TVS-TWG Warranty Solutions. The JV would invest around $4 million. It has tied up with two automobile manufacturing firms and would tie up with a few more, said R Dinesh, director, TASL.
