TVS Mobility and Mitsubishi Corporation have formed a strategic relationship to address the rapidly expanding Indian automotive market which has resulted in the creation of TVS Vehicle Mobility Solution. This joint venture wants to capitalize on the strong demand for cars around the country to establish itself as India's largest independent vehicle dealer.
TVS Mobility's Importance
TVS Mobility a division of T V Sundram Iyengar & Sons Private Limited holds a significant presence in automotive distribution and aftermarket services. With a network of over 150 car dealerships nationwide TVS Mobility serves as a critical automotive dealer for leading brands such as Honda, Toyota, Mercedes-Benz, Mahindra, Volkswagen, and Ford, among others.
Collaboration with Mitsubishi Corporation
Mitsubishi Corporation a distinguished Japanese combination has launched a joint venture with TVS Mobility infusing an initial investment of Rs. 300 Crores. The purpose of the partnership is to support TVS Mobility's dealership operations which are referred to as TVS Vehicle Mobility Solution. The Mitsubishi Corporation has shown its commitment to developing a comprehensive ecosystem for vehicle mobility in India by purchasing approximately 30% of TVS Mobility.
Objectives and Projections
India's car ownership experience is going to be completely transformed by TVS Vehicle Mobility Solution. In the next three to five years, the joint venture is expected to generate USD 2 billion in revenue. It is in a good position to service a range of markets including those for passenger automobiles, commercial vehicles, and material handling equipment.
Business Model and Offerings
The joint venture targets enterprises corporations and owners offering comprehensive solutions in vehicle sales operations and vehicle service. By using innovative and digitally-enabled platforms TVS Vehicle Mobility Solution aims to enhance customer satisfaction and engagement across the automotive ecosystem.
Insights from Management
Mr. R. Dinesh, Director of TVS Mobility talks about how important the partnership is for offering combined solutions to the vehicle mobility sector. He says they are committed to providing digital solutions to customers and working closely with vehicle makers to bring in new ideas.
Mr. Shigeru Wakabayashi, CEO of the Automotive and Mobility Group at Mitsubishi Corporation, talks about the huge market in India and why they need to be part of the automotive sector here. He says the partnership shows Mitsubishi Corporation's dedication to creating full mobility solutions and investing more in India.
The partnership between TVS Mobility and Mitsubishi Corporation is a big step forward for India's automotive industry. By working together they aim to change how people own vehicles make operations more efficient and take advantage of India's growing automotive market. TVS Vehicle Mobility Solution hopes to become a major player in India offering new and customer-focused solutions in the changing world of mobility.