Mitsubishi is gearing up to make a grand entrance into Indias automotive market this year, marking its debut with a significant stake in TVS Mobility, a major player in the countrys dealership scene. With plans to secure over 30% ownership in TVS Mobility, Mitsubishi is poised to reshape the landscape of car sales in India. Reports suggest that TVS Mobility will segregate its car sales segment into a distinct entity, with Mitsubishi stepping in as a key investor.The proposed investment, estimated to range between 5 billion to 10 billion yen ($33 million to $66 million), awaits regulatory green lights. Nonetheless, Mitsubishi is eager to hit the ground running, intending to dispatch its personnel to the dealerships promptly upon finalization of the deal.Japanese trading house Mitsubishi Corp. will enter the car sales business in India this summer by taking a 30%-plus stake in a local company.https://t.co/XFMQsuHKRZ— Nikkei Asia (@NikkeiAsia) February 18, 2024So, whats in store for Mitsubishis Indian ventureThe envisioned collaboration will birth a new entity, equipped with dedicated showrooms catering to individual car brands. Leveraging TVS Mobilitys existing network, the focus initially lies on bolstering the sales of Honda cars, an integral part of the TVS lineup. Additionally, Mitsubishi aims to forge alliances with Japanese automakers, intending to diversify the range of car brands and models available in the Indian market.But thats not all. Embracing the global shift towards sustainable mobility, the new entity will embrace electric vehicles (EVs) as a pivotal component of its product portfolio. Mitsubishi is keen on championing EV adoption in India, aligning its strategies with the nations evolving automotive landscape.Furthermore, the collaboration promises innovative services tailored to modern consumer preferences. From facilitating maintenance appointments to enabling insurance purchases via a smartphone application, the new company aims to redefine the automotive retail experience in India.Nonetheless, Mitsubishis foray into the Indian car market signifies a strategic move aimed at capturing a significant share of one of the worlds fastest-growing automotive markets. With a blend of cutting-edge technology, strategic partnerships, and customer-centric services, Mitsubishi is poised to make a lasting impression on Indias automotive industry.
