Mitsubishi is set to make its debut in India's car sale market this year with a 30 percent in TVS Mobility that operates dealerships in the country. This means that TVS Mobility will spin off its car sales business and Mitsubishi will take a stake of over 30 per cent in the new entity. Nikkei Asia reported that the investment is expected to be between 5 billion to 10 billion yen ($33 million to $66 million). This is still subject to regulatory approvals, it added but Mitsubishi plans to sends its employees to the dealership as soon as the investment is finalised.
Mitsubishi to enter Indian car sales market this summer. (Reuters)
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The new company which will be created will have dedicated showrooms for each car brand. It will also use TVS Mobility's existing outlets and initially focus on increasing the sales of Honda cars which are already a part of the TVS lineup, the report claimed. Mitsubishi's aim will also be to hold discussions with Japanese automakers to enhance the range of car brands and models offered in India.
What about EVs?
The new company will also offer electric vehicles (EVs) as part of its lineup as Mitsubishi aims to promote them in India. New services such as enabling customers to schedule maintenance appointments and purchase insurance through a smartphone app will also be provided by the company, the report claimed.
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