Mitsubishi has partnered with TVS Mobility to establish a comprehensive vehicle mobility ecosystem in India. It will make an initial investment of Rs 300 crore in the company.
This venture is designed to further the parties’ vision for vehicle ownership in passenger cars, commercial vehicles, and material handling equipment (MHE). According to the press release, the business model has the potential to generate $2 billion in income over the next three to five years.
Mitsubishi will also discuss effective practices for scaling up this business model faster.
This will change TVS Mobility’s dealership business into TVS Vehicle Mobility Solution (TVS VMS).
Dinesh, Director, and TVS Mobility, said, “TVS Mobility, had pioneered the sales, service and distribution of vehicles market through its dealership business in India. This collaboration with MC will enable TVS to provide a range of solutions to the entire vehicle mobility ecosystem.”
Shigeru Wakabayashi, CEO of Automotive and Mobility Group at Mitsubishi Corporation, said, “To gain a downstream foothold in the rapidly growing Indian market, MC has been fostering its relationship with TVS Mobility group including the investment in the after-sales services provider TVS Automobile Solutions (TASL). The latest investment in the multi-brand dealer TVS VMS widens MC’s investment coverage through enhanced service capabilities even further 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 model, and other automotive operations.”