Mitsubishi Corp to invest Rs 300 crore in TVS Mobility

The company will invest Rs 300 crore to acquire a 32% stake in the newly formed JV called TVS Vehicle Mobility Solutions.

Japanese conglomerate Mitsubishi Corporation has announced a joint venture with TVS Mobility to establish a dealership network across India. The company will invest Rs 300 crore to acquire a 32% stake in the newly formed JV called TVS Vehicle Mobility Solutions.

TVS Vehicle Mobility Solutions will offer a variety of services to its customers, including 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. 

According to R Dinesh, Director of TVS Mobility, Mitsubishi’s investment will help the company scale up its business in India. The business model will have the potential to achieve $2 billion in revenue in the next 3-5 years.

Dinesh also stated that the Vehicle Mobility business will provide innovative and digitally enabled solutions to customers, be it enterprises, corporates or fleet owners. The company will also expand its partnership with vehicle manufacturers to provide integrated solutions across vehicle sales, operating of vehicles and ‘Vehicle-as-a-Service’ (Micromobility) solutions.

Shigeru Wakabayashi, CEO of Automotive and Mobility Group at Mitsubishi Corporation, said, “India has the world’s third-largest market for new automobiles with sales topping five million vehicles in 2023 and expected to grow at 6-7 per cent in the next few years.”