Mitsubishi Corporation is gearing up to make its mark in the Indian automobile car sales market this year, with plans for a significant investment and strategic partnerships.
According to a business news agency, the Japanese company has acquired a 32% stake, with an investment ranging from $33 million to $66 million, as reported by Nikkei Asia.
With the assistance of TVS Mobility, Mitsubishi aims to establish its dealership network across India, leveraging the expertise of TVS Mobility, which already manages Honda Cars dealerships in the country.
The focus will be on expanding the Japanese brand’s presence nationwide, enhancing its network, and diversifying its model lineup for the Indian market.
Mitsubishi’s entry into the Indian market extends beyond traditional vehicles, as the company eyes the burgeoning electric vehicle (EV) segment.
These EVs will be retailed through the newly established dealerships.
A report by the business news agency from May 2023 revealed Mitsubishi Electric Corp.’s plans to invest Rupees 18.91 billion ($231.2 million) in setting up a manufacturing facility in Tamil Nadu.
The company announced its intention to employ over 2000 people for this project, signalling its long-term commitment to the Indian market and its potential for growth.
As Mitsubishi Corporation finalises its investment and partnerships, it sets its sights on a dynamic and competitive Indian automotive landscape.
With a blend of strategic investments, technological advancements, and a focus on sustainability, Mitsubishi aims to carve out a significant presence in India’s automotive industry, catering to the evolving needs and preferences of Indian consumers.
