GAME CHANGER ALERT: Mitsubishi Teams Up with TVS Mobility for India Reboot

Japanese car maker Mitsubishi Corporation plans to make its debut in the Indian auto industry by acquiring a 30% share in TVS Mobility Solution, which runs auto dealerships for brands including Honda, Renault, Ashok Leyland, and Mahindra. The investment is valued at Rs 300 crore. This joint venture will concentrate on solutions for vehicle mobility. Through the new business, Mitshubishi aims to market local auto brands. They will most likely introduce their legendary Mitsubishi Pajero in an EV version, according to information uncovered on asia.nikkei.com.

TVS Mobility Director R. Dinesh announced on Monday in Chennai that the Rs 300 crore payment from Mitsubishi will act as seed capital. In three to five years, we hope to generate around $2 billion in revenue from the new company. In three years, we want to reach a revenue target of Rs 1500 crore. In this business, size matters, and profitable expansion is crucial, the speaker stated. At the moment, TVS Mobility brings in Rs 5,000 crore a year.

Shigeru Wakabayashi, CEO of Automotive and Mobility Group at Mitsubishi Corporation, said, “The latest investment in the multi-brand dealer TVS VMS widens MC’s investment coverage through enhanced service capabilities even further (than the investment in the after-sales services provider TVS Automobile Solutions) and should propel its aim to develop comprehensive mobility solutions spanning not only after-sales services and multi-brand sales but also vehicle-as-a-service models and other automotive operations.”