Mitsubishi partners with TVS Mobility to provide Integrated Vehicle Mobility solutions in India

TVS Mobility (Demerged from T V Sundram Iyengar & Sons Private Limited), operates in the Indian Automotive Distribution and Aftermarket Industry. It has established manufacturing (components), and integrated aftermarket platform in India.  Today, TVS Mobility announced a Joint Venture with the Japanese conglomerate Mitsubishi Corporation (MC), a globally integrated business enterprise with a network of around 1,700 group companies, to establish a comprehensive vehicle mobility ecosystem in India. With this, the dealership business of TVS Mobility will transform into TVS Vehicle Mobility Solution (TVS VMS) – offering a complete portfolio of services to its customers and will herald a transformation in the Indian automotive landscape. The deal is subject to the approval by the relevant regulatory authorities. MC will initially invest Rs 300 crores with both parties committed to support the growth of this venture. This investment is intended to propel the parties’ vision in relation to vehicle ownership in Passenger Cars, Commercial Vehicles and Material Handling Equipment (MHE). The business model will have the potential to achieve $2bn revenue in the next 3-5 years’ time. “TVS Mobility, had pioneered the sales, service and distribution of vehicles market through its dealership business in India.  This collaboration with MC will enable