Mitsubishi Motors will enter India’s car sales business: Japanese company will buy 32% stake in TVS Mobility, will promote electric vehicles
Japanese car manufacturing company Mitsubishi Motors is preparing to enter India’s car sales business. According to a news from Nikkei Asia, Mitsubishi will buy more than 30% stake in TVS Mobility, a company that operates car dealerships in South Asian countries.
Nikkei Asia has said in its report that as per the agreement between the two companies, TVS Mobility will close the car sales business in India. Under this deal, Mitsubishi can invest $33 million to $66 million (about ₹273 crore to ₹547 crore).
Mitsubishi will create dedicated showrooms for every car brand
Mitsubishi will create dedicated showrooms for each car brand using TVS Mobility’s 150 existing outlets. According to the report, the company will initially focus on increasing the sales of Honda cars, which are already in the TVS lineup. Mitsubishi will be in discussions with the Japanese vehicle manufacturer to expand the range of Japanese car brands and models.
Company will promote adoption of EV
Mitsubishi will also offer electric vehicles (EV). The company aims to promote widespread adoption of EVs in India. Along with this, the company is also planning to launch new services, such as enabling customers to schedule car maintenance and buy insurance through a smartphone app. So that the customer experience can be improved.
