TVS Mobility and Mitsubishi Forms Alliance For Vehicle Mobility Ecosystem By CIOTechOutlook Team

TVS Mobility and Mitsubishi Forms Alliance For Vehicle Mobility Ecosystem

CIOTechOutlook Team | Monday, 19 February 2024, 11:44 IST

TVS Mobility said it has formed a strategic alliance with the Japanese combination Mitsubishi Partnership to lay out a complete vehicle mobility ecosystem in India. As a feature of the coordinated effort, Mitsubishi Enterprise will at first contribute Rs 300 crore with the two players resolved to help the development of the joint endeavor.

This investment is intended to propel both the parties' vision in relation to vehicle ownership in passenger cars, commercial vehicles and material handling equipment (MHE), TVS Mobility said in a statement. The business model will have the potential to achieve USD 2 billion revenue in the next 3-5 years' time, it added.

With this, the dealership business of TVS Mobility will transform into TVS Vehicle Mobility Solution (TVS VMS) offering a complete portfolio of services to its customers, as per ET.

"TVS Mobility, had pioneered the sales, service and distribution of vehicles market through its dealership business in India. This collaboration with MC will enable TVS to provide a range of solutions to the entire vehicle mobility ecosystem," TVS Mobility Director R Dinesh said.

In the wake of giving integrated and digital platforms for the independent aftermarket, the vehicle portability business will give carefully empowered answers for clients, be it undertakings, corporates or armada proprietors, he added.

The accomplices would likewise grow organization with vehicle manufacturers to give incorporated arrangements across vehicle deals, working of vehicles and Vehicle-as-a-Administration arrangements, Dinesh said.

To acquire a downstream traction in the quickly developing Indian market, Mitsubishi Enterprise has been cultivating its relationship with TVS Mobility group including the investment for the after-deals TVS Automobile Solutions (TASL), Mitsubishi Organization Chief of Auto and Mobility Group Shigeru Wakabayashi said.