Mitsubishi Corp is preparing to re-enter the Indian automotive market this summer. This time, the Japanese automaker plans to make its entry by acquiring a significant 30 percent stake in TVS Mobility, one of India’s leading dealership networks. It’s worth noting that TVS Mobility also manages Honda Cars dealerships in the country.
According to a report by Nikkei Asia, this strategic move entails an investment estimated between 5 billion to 10 billion yen ($33 million to $66 million), pending regulatory approval. Mitsubishi is eagerly preparing to deploy its workforce to the dealerships promptly upon finalization of the investment.
Mitsubishi In India – 2024
In its venture into India, Mitsubishi’s blueprint outlines the establishment of a new entity, complete with dedicated showrooms catering to each car brand. Leveraging TVS Mobility’s existing network, the venture will initially prioritize boosting sales of Honda vehicles. Furthermore, Mitsubishi plans to engage in discussions with renowned Japanese automakers to enrich the spectrum of car brands and models available in the country.
With the newly formed company, Mitsubishi will integrate electric vehicles (EVs) into its product portfolio. It also plans to introduce new services, including facilitating maintenance scheduling and insurance purchases through a user-friendly smartphone application. This means customers will have access to a digital platform enabling them to purchase insurance and schedule service appointments online.
History Overview
Mitsubishi was once a renowned car brand in India among enthusiasts. The carmaker ceased its Indian operations in 2016 due to multiple reasons, including choosing the CBU route, production dependency on HM, false fuel mileage scandals, and financial instability. The Japanese automaker first entered India in collaboration with Hindustan Motors (HM) in 1998, with the Mitsubishi Lancer being its first offering. The carmaker’s product portfolio also included the Cedia sedan, Pajero SUV, and Outlander SUV.
Further details about Mitsubishi’s entry plan into India will be revealed in the near future. Stay tuned to IndiaCarNews for updates.
