Mitsubishi's Foray into India's Car Market: Strategic Investment in TVS Mobility

Mitsubishi is set to make its debut in India's competitive car sales market through a strategic investment in TVS Mobility, a prominent player in the country's dealership landscape. The agreement involves Mitsubishi acquiring a substantial stake, exceeding 30 percent, in TVS Mobility's car sales division, subject to regulatory approvals. The investment, estimated to range between 5 billion to 10 billion yen ($33 million to $66 million), underlines Mitsubishi's commitment to establishing a significant presence in India's automotive sector.

Upon completion of the investment process, Mitsubishi plans to integrate its personnel into the dealership operations, signaling a collaborative effort to tap into the growing Indian market. The envisioned partnership will give rise to a new entity dedicated to offering a diverse range of car brands through specialized showrooms. Initially, the focus will be on boosting sales of Honda cars, an integral part of TVS's portfolio, utilizing the existing infrastructure of TVS Mobility.

Aligned with the global automotive industry's trend toward sustainability, the new company is poised to prioritize electric vehicles (EVs) as a fundamental component of its offerings. Mitsubishi aims to lead the promotion of EV adoption in India, aligning with the country's emphasis on cleaner mobility solutions.

Furthermore, the venture aims to elevate the customer experience by introducing innovative services such as smartphone-enabled maintenance scheduling and insurance purchases. Looking ahead, Mitsubishi plans to engage in discussions with Japanese automakers to diversify the range of car brands and models available in the Indian market.