CHENNAI: Japanese automotive giant Mitsubishi has invested Rs 300 crore for 32% stake in multi-brand automotive dealer TVS Vehicle Mobility Solution, subsidiary of TVS Mobility (demerged from TV Sundram Iyengar & Sons). With this, the dealership business of TVS Mobility will transform into TVS VMS – a joint venture between TVS Mobility and Mitsubishi – with both parties committed to support the venture’s growth.
“This investment is intended to propel the parties’ vision in relation to vehicle ownership in passenger cars, commercial vehicles and material handling equipment and the business model will have the potential to achieve $2 billion revenue in the next 3-5 years’ time,” said R Dinesh, director, TVS Mobility. Mitsubishi, he added, is coming in as a partner to “scale up this business and spread this model to other geographies.”
“The latest investment in TVS VMS widens MC’s investment coverage through enhanced service capabilities even further and should propel its aim to develop comprehensive mobility solutions,” said Shigeru Wakabayashi, CEO of automotive and mobility group at Mitsubishi.
“This investment is intended to propel the parties’ vision in relation to vehicle ownership in passenger cars, commercial vehicles and material handling equipment and the business model will have the potential to achieve $2 billion revenue in the next 3-5 years’ time,” said R Dinesh, director, TVS Mobility. Mitsubishi, he added, is coming in as a partner to “scale up this business and spread this model to other geographies.”
“The latest investment in TVS VMS widens MC’s investment coverage through enhanced service capabilities even further and should propel its aim to develop comprehensive mobility solutions,” said Shigeru Wakabayashi, CEO of automotive and mobility group at Mitsubishi.