Many know Narain Karthikeyan as the first Indian to compete in Formula One. However, people are unaware of his successful entrepreneurial capabilities. Karthikeyan is the Founder and CEO of DriveX. It is an end-to-end affordable mobility platform.
About Narain Karthikeyan
Narain Karthikeyan’s full name is Kumar Ram Narain Karthikeyan. He was born on 14th January 1977 in Tamil Nadu’s Coimbatore. He completed his schooling at Stanes Anglo Indian Higher Secondary School.
His father was a racer; therefore, he also developed a love for racing. From a young age, Narain raced for several teams across the world.
Narain Karthikeyan’s Racing Achievements
He has participated in and won multiple races, including:
- A1GP
- British F3
- World Series by Nissan
- AutoGP, Formula Asia
- British Formula Ford and Opel
He won the British Formula Ford Winter Series and Formula Asia Championship. And he also competed in the NASCAR truck series. In addition, he was awarded the Padma Shri Award, India’s fourth-highest civilian award, in 2010.
Narain Karthikeyan – F1 Driver
He made his Formula 1 debut in 2005, making him the first-ever Indian to compete in Formula 1. His first race was the 2005 Australian Grand Prix with Jordan Team. He qualified in the 12th position and finished in the 15th, two laps down. In 2006, Williams Team made Karthikeyan their 4th driver.
In 2011, he joined the Hispania team. It was a proud moment for the people of India to see someone from their own country in Formula One.
Narain Karthikeyan – An Entrepreneur
Narain Karthikeyan launched his business venture in 2020 – DriveX. You can buy, sell, exchange, and service all pre-owned two-wheeler vehicles with DriveX.
Furthermore, the company’s estimated valuation in just two years was Rs. 178 crore. It is crazy how in such little time, Narain and his team managed to build Rs. 178 crore firm.
The firm was backed by the world’s biggest motorcycle manufacturer- TVS Group, and it acquired 42% stakes in the company. They paid the company Rs. 85.4 crore; however, to their surprise, the company’s valuation turned out to be Rs 178 crore. The revenue of the company is in billions.
It is a digital-first business that has expanded to 18 different cities. It has three factories- two in India and one in Indonesia.
Narain Karthikeyan’s Plans For The EV Sector
Electric Vehicles are rising rapidly. Therefore, they are considered as the future of mobility. Thus, DriveX is also expanding in this field. Recently, DriveX’s plan in the EV sector was explained by Narain Karthikeyan. He said,
“The biggest pain point is that technology is evolving, and the price point, especially for two-wheelers, the affordability, and the entire lifecycle. The customers are not sure what the residual value could/would be. It is changing on an everyday basis, and the whole world is moving towards electrification. This is something that is going to keep evolving, like battery technology. We are first in the country to have repowering centers, wherein pre-owned electric two-wheelers are re-powered and then sent back to the platform, so the price point is much lower.”
This is Narain Karthikeyan’s journey from being an F1 driver to becoming a successful entrepreneur. I hope you have enjoyed reading it. If you like reading such news and stories, you can follow us.
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