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Mitsubishi is returning to India in partnership with TVS Mobility’s Car Sales Division
Mitsubishi, the iconic Japanese brand is set for a grand return to the Indian car market. This time, they’re partnering with established player TVS Mobility. It will mark a strategic move with significant implications for the Indian automotive landscape. TVS Mobility, India’s largest automobile corporate dealer is spinning off its car sales division. Mitsubishi is eager to tap into the booming Indian market and will acquire a significant stake (over 30%) in this newly formed entity. This partnership is currently pending regulatory approval and is estimated to cost Mitsubishi between 5 billion and 10 billion yen. It is approximately USD 33 million to USD 66 million.
New Venture to Conquer India’s Automotive Market
TVS Mobility brings a strong network of around 150 outlets across India. It already represents brands like Honda, Renault, Mahindra Trucks, and Ashok Leyland. Leveraging this infrastructure and expertise, the new entity will initially focus on expanding Honda car sales. Additionally, Mitsubishi will spearhead negotiations with other Japanese automakers to potentially introduce more brands and models that will diversify the portfolio.
The partnership aims to be more than just a dealership network. The plan involves integrating technology to enhance customer experience. One such initiative is a smartphone app, enabling features like scheduling maintenance appointments and purchasing insurance. This digital focus anticipates the increasingly tech-savvy Indian consumer base.
Mitsubishi’s Electric Push:
Mitsubishi recognizes the growing importance of electric vehicles (EVs) in India. The new entity intends to offer EVs alongside traditional vehicles and will promote wider adoption to evolving consumer preferences. This partnership is a big win for both companies. Mitsubishi gains a strong foothold in the rapidly growing Indian market, while TVS Mobility benefits from Mitsubishi’s global expertise and brand recognition. For Indian consumers, it means wider options, potentially better service, and a focus on future technologies like EVs.
With a combined network, innovative strategies, and a focus on future trends, this partnership has the potential to shake up the Indian car market. As the market evolves, this strategic alliance between Mitsubishi and TVS Mobility will be interesting to watch, shaping the future of car sales and customer experience in India.
Also read: Toyota to Launch 3 All-new Cars in India in 2024