Mitsubishi to Acquire 30% Stake in TVS Mobility, Expanding Presence in Indian Car Sales Market

Japanese conglomerate Mitsubishi Corporation is making a significant move into the Indian car sales market by acquiring a stake of over 30 percent in car dealership TVS Mobility. The investment of 5 billion to 10 billion yen ($33 million to $66 million) is still subject to regulatory approval, after which Mitsubishi plans to dispatch its employees to collaborate with the dealership. As part of the strategic partnership, Mitsubishi will collaborate with TVS Mobility to establish exclusive stores for each car brand. The newly formed entity aims to become one of the largest independent car dealerships in India.

This venture will focus on expanding sales of Japanese car brands in India, including electric vehicles. Mitsubishi plans to introduce innovative services such as scheduling maintenance appointments and purchasing insurance through a smartphone app, aiming to contribute to sales expansion, especially as competition intensifies in the Indian market. India, being the world’s third-largest market for new car sales, has seen limited participation from Japanese automakers, with Suzuki Motor being an exception. Mitsubishi’s entry into the market aims to enhance its presence and the variety of Japanese car brands and models available to Indian consumers.

Mitsubishi’s interest in the Indian car sales market indicates the company’s strategic move to capitalize on the growing demand for cars in India as well as tap into the potential for electric vehicle adoption in the country. With their focus on offering a diverse range of Japanese and local car brands, Mitsubishi’s venture into the Indian market is poised to shape the competitive landscape of the car sales sector. With the planned introduction of innovative services and the collaboration with TVS Mobility, Mitsubishi’s investment in the Indian car sales market is a significant development to watch out for in the months to come.