Mitsubishi will soon enter into a new partnership with Jamshedpur, Jharkhand based company to start new innings in India.
Mitsubishi Motors entered into partnership with Indian manufacturer Hindustan in 1998. Despite being one of the longest serving companies, it failed to hold significant market share in the market. The Japanese automaker introduced legendary cars like the Lancer EVO, Pajero and Outlander in the Indian market. It was speculated that Mitsubishi will eventually discontinued from the market; however, a new report claims that Mitsubishi will have a new partner in India.
According to Express Drives, Mitsubishi India is all set to enter into partnership with a Jamshedpur, Jharkhand based company. The name of the investor is yet to be announced, but the report suggests that the new investor is well-known brand and is supplying parts to big automobile makers in India. Mitsubishi India is working with Hindustan Motor Corporation Limited to check assets and liablities. This process is likely to be finished by the end of June 2020.
The final approval on the new partnership will come from the Mitsubishi headquarters in Japan. It is expected that around Rs 500 crore will be infused as the new investment. The investment will help Mitsubishi to set-up a new assembly line in Jamshedpur. The company will initially launch Completely Built Units (CBU) in India.
The report further claims that Mitsubishi will launch 2 new SUVs in India. The company will launch an all-new SUV to rival the Toyota Fortuner, while an affordable mid-sized SUV will also on the cards. This SUV will take on the likes of the Kia Seltos and the Hyundai Creta. The company could introduce the Mitsubishi Eclipse and Eclipse Cross in India.
Mitsubishi could also introduce the Xpander Cross, which is on sale in select Asian markets including Indonesia. The upcoming Mitsubishi SUVs will use the new 1.3-litre turbocharged petrol engine that also powers the Renault Duster and Nissan Kicks. This engine is capable of producing 154bhp and 256Nm of torque. There will be a BSVI compliant diesel version as well. The Eclipse Cross is available with a 2.2-litre diesel engine in Japan.
Mitsubishi is likely to launch the new products under CBU route to take benefit of Indian Government decision of allowing importing up to 2,000 cars without local homologation. Mitsubishi will use this route initially before starting local assembly or production. The SUVs will be offered with petrol and diesel guise to target wider audience. Not just new products, Mitsubishi will also increase their dealership counts. The company currently has only 11 dealerships across India.
Source – Express Drives
