Ashok Leyland acquires 49.9% stake in TVS Trucks

Japan’s Mitsubishi Corporation recently announced an investment of Rs 300 crore to form a JV with TVS Mobility.

Ashok Leyland has invested Rs 24.95 crore in TVS Trucks and Buses Pvt. Ltd., acquiring a 49.9% stake.

TVS Trucks is a joint venture company of TVS Mobility Pvt. Ltd. and Ashok Leyland, where the former holds a majority stake of 50.1%. It specializes in the automotive dealership business.

Earlier this month, Japan’s Mitsubishi Corporation announced an investment of Rs 300 crore to form a joint venture with TVS Mobility. Mitsubishi will control a 32% stake in the newly formed JV called TVS Vehicle Mobility Solutions.

TVS Vehicle Mobility Solutions will offer services like new vehicle sales, vehicle-as-a-service models and fleet operating solutions. The company currently operates dealerships of brands like Ashok Leyland, Honda, Mahindra and Renault.

Source: ET Auto