Tokyo – New Delhi: Mitsubishi Corporation (MC) has just shifted gears in a major way, announcing its grand re-entry into the bustling Indian automotive market. In a move that’s turning heads, MC is set to subscribe to a significant 32% share in TVS Vehicle Mobility Solution Private Limited (TVS VMS), a name synonymous with India’s automotive revolution.
This isn’t just a business transaction; it’s a regulatory waltz that’s waiting for the nod from relevant authorities. But once that green light flashes, it’s full speed ahead for Mitsubishi in India.
MC’s journey in India is not a new one. The company previously invested in TVS Automobile Solutions (TASL) in 2019, tapping into a vast network of service centers and retail partnerships. Now, with TVS VMS, MC is turbocharging its presence in the Indian market, aiming to offer comprehensive mobility solutions, from after-sales to leasing and everything in between.
A Flashback and the Future Combined: TVS Vehicle Mobility Solution, part of the iconic TVS Group, isn’t just another company. It’s a legacy that dates back to 1951, now pivoting into a modern avatar with TVS VMS. With a sprawling network of 152 dealerships, TVS VMS is a titan in the Indian automotive space, boasting partnerships with renowned automakers like Honda, Renault, and Mahindra.
The numbers are staggering – over one million vehicles sold since 1951, and 100,000 regular maintenance services per year. The digital revolution hasn’t passed them by either, with the launch of TVSOne, an app that simplifies everything automotive.
India’s Automotive Landscape: India’s roads are bustling with the world’s third-largest market for new automobiles. In 2023 alone, over five million vehicles found their new homes. But the Indian consumer is evolving, moving from owning to using, and electric vehicles are sparking up, given the lower costs compared to petrol vehicles.
Mitsubishi’s Indian Roadmap: MC’s automotive story isn’t new. It’s a tale that began in the 1950s, spreading across ASEAN markets. But India, with its dynamic market, has caught Mitsubishi’s special attention. Since 2012, through Isuzu Motors India Private Limited, MC has been cementing its presence in India. With the partnership with TVS VMS and digital technology, MC is gearing up to accelerate its journey in India.
About Mitsubishi Corporation: Based in Tokyo, Mitsubishi Corporation is a global powerhouse, with diverse interests ranging from automotive and mobility to energy and urban development. Led by President and CEO Katsuya Nakanishi, this enterprise has been a global player since 1954.
About TVS Vehicle Mobility Solution Private Limited: Rooted in the TVS Group legacy, TVS VMS, headquartered in Tamilnadu, India, represents a new chapter in the group’s storied history. Established in 2023, it’s a spin-off with a focus on leveraging digital technology, under the leadership of Mr. R. Dinesh, Director and President of the Confederation of Indian Industry (CII) for FY 2023-24.
In a world where mobility is rapidly evolving, this partnership is not just about business; it’s about shaping the future of how we move. So, buckle up, India. Mitsubishi and TVS are ready to drive you into the future!
