Auto service firm GoMechanic launches Rs 30 cr partner stock option scheme

Programme, which covers workshops, retailers, distributors and consultants pan-India, will have a 4-year vesting duration with yearly vesting at 25% and a cliff period of a year

GoMechanic, the aftermarket automotive service and maintenance platform, launched a Rs 30 crore partner stock option for its services partners, workshops, retailers, distributors and consultants across India.

The stock options will have a 4-year vesting duration with yearly vesting at 25% and a cliff period of one year.

Kushal Karwa, Co-Founder, GoMechanic, said, “The Partner Stock Option Programme is a step towards incentivising and strengthening our collaboration with our partner workshops by enabling them with the opportunity to participate in GoMechanic’s long-term value creation as well as expansion in the automotive sector.”

He added, “This will also enable us to foster deeper connections with them and give them due recognition that they deserve. GoMechanic, as an organisation, is committed to working towards streamlining the automotive service sector to create meaningful job opportunities and upskill the informal workspace.”

GoMechanic has also partnered with the National Skill Development Centre (NSDC) to train 5,000 mechanics across 1,500 workshops in India. The NSDC training, which starts on July 5, will be an integral part of the government body’s Skill India Mission. The three-tier training module will consist of an intense 8-module curriculum covering every aspect of a car & construction and equips the mechanics with advanced skills.

“Our partnership with NSDC is a step in the direction of our deep commitment to the Skill India initiative. As a result, service partners will receive Verified Skill India badges based on merit and skill. This is a significant step towards our goal of having Service Buddies trained to offer unmatched levels of customer care and upskill their portfolios,” said Amit Bhasin, Co-Founder, GoMechanic.

The GoMechanic PSOPs are currently available to a select number of big partners that have been affiliated with GoMechanic for longer than a year. At the same time, it also intends to expand the advantages of this concept to newly onboarded partners.