close_game
close_game

CCI approves Mitsubishi Corporation's investment in TVS Certified and TVS Vehicle Mobility Solutions

ANI |
Jun 11, 2024 08:55 PM IST

According to CCI press release, this decision marks a development in the Indian market, enhancing Mitsubishi's footprint and supporting TVS's strategic growth.

The Competition Commission of India (CCI) has approved Mitsubishi Corporation's acquisition of an equity stake in TVS Certified Private Limited and TVS Vehicle Mobility Solution Private Limited.

The TVS Motor Company's logo (Representational)(HT Archive)
The TVS Motor Company's logo (Representational)(HT Archive)

According to CCI press release, this decision marks a development in the Indian market, enhancing Mitsubishi's footprint and supporting TVS's strategic growth.

The approval pertains to Mitsubishi Corporation acquiring a strategic equity position in TVS Certified Private Limited and TVS Vehicle Mobility Solution Private Limited.

Also Read | Aspiring actor arrested for posing as police officer, robbing bikes, mobiles

The CCI's nod facilitates Mitsubishi's expansion into India's thriving automotive sector, aligning with its global strategy of diversifying and strengthening its presence across various industries.

Mitsubishi, with its extensive global reach and diverse portfolio, operates across 90 countries and regions, managing approximately 1,700 group companies worldwide.

Also Read | Passenger vehicle exports rise by 2.68 lakh units in 4 years; 70 percent is Maruti Suzuki

Its operations span multiple sectors, including natural gas, industrial materials, petroleum and chemicals, mineral resources, industrial infrastructure, automotive and mobility, food industry, consumer industry, power solutions, and urban development, read the press release.

TVS Certified will focus on the used vehicle market, conducting auctions primarily through offline channels in physical auction yards.

This initiative aims to streamline the sale of pre-owned vehicles, providing a structured and reliable platform for buyers and sellers, thus boosting transparency and efficiency in the used vehicle market.

Also Read | Long queues of vehicles at CNG pumps across Pune

TVS Vehicle Mobility Solution is set to operate in domains- Dealership and Distribution: Handling commercial and passenger vehicles, including electric vehicles (EVs), construction equipment, and material handling vehicles.

This will enhance the accessibility and availability of diverse vehicle options for Indian consumers.

Motor Vehicle Services- Offering dealership and distribution of spare parts for vehicles, catering to specific manufacturers, thereby strengthening the service infrastructure and support for vehicle owners.

rec-icon Recommended Topics
Share this article
Stay updated with the latest Business News on Petrol Price, Gold Rate, Income Tax Calculator along with Silver Rates, Diesel Prices on Hindustan Times.
See More
Stay updated with the latest Business News on Petrol Price, Gold Rate, Income Tax Calculator along with Silver Rates, Diesel Prices on Hindustan Times.
SHARE THIS ARTICLE ON
SHARE
Story Saved
Live Score
Saved Articles
Following
My Reads
Sign out
New Delhi 0C
Wednesday, February 19, 2025
Start 14 Days Free Trial Subscribe Now
Follow Us On