Mitsubishi picks up 32% stake in TVS VMS

Mitsubishi Corporation. has invested Rs 300 crore for a 32% stake in multi-brand automotive dealer TVS Vehicle Mobility Solution (. (demerged from TV Sundram Iyengar & Sons Private Limited)...

With this, the dealership business of TVS Mobility will transform into TVS VMS, a joint venture between TVS Mobility and Mitsubishi Corporation, with both parties committed to support the growth of this venture.. investment. is intended to propel the parties vision in relation to vehicle ownership in passenger cars, commercial vehicles and material handling equipment (MHE) and the business model will have the potential to achieve $2bn revenue in the next 3-5 years time, said R Dinesh, director, TVS Mobility..

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 spanning not only after-sales services and multi-brand sales, but also vehicle-as-a-service model, and other automotive operations. said Shigeru Wakabayashi, CEO of automotive and mobility group at Mitsubishi Corporation..

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