Mitsubishi Corporation is set to make a significant foray into India’s automotive sector this summer, acquiring a substantial stake in an Indian car dealership company, a move aimed at strengthening Japanese automakers’ foothold in the world’s third-largest car market. The strategic investment will see Mitsubishi holding more than 30% in a newly formed entity, derived from TVS Mobility, one of India’s leading car sales companies.
This venture represents Mitsubishi’s ambitious effort to diversify its global automotive distribution network, recognizing India’s burgeoning market potential. With an investment estimated between 5 billion to 10 billion yen ($33 million to $66 million), pending regulatory approval, Mitsubishi is poised to dispatch its personnel to enhance the dealership’s operations.
The collaboration with TVS Mobility, which boasts approximately 150 outlets, will position the new entity as one of India’s largest independent car dealerships. The partnership aims to initially boost Honda car sales, with plans to broaden the range of Japanese vehicles offered, including electric vehicles (EVs), to meet the increasing demand for sustainable transportation options in India.
Mitsubishi’s innovative approach will also introduce new customer service technologies, such as a smartphone app for maintenance appointments and insurance purchases, aiming to enhance the car buying and ownership experience. This strategic move not only signifies Mitsubishi’s commitment to expanding its global automotive distribution but also highlights the growing importance of the Indian market in the global automotive industry.
