Punjab News Network

TVS Mobility and Mitsubishi Corp. collaborate to create a car service ecosystem

<p>In order to create a comprehensive car service ecosystem, TVS Mobility, a Chennai-based auto component and after-sale distribution chain, and Mitsubishi Corporation (MC), a Japan-based conglomerate, have established a joint venture.</p>
<p><img decoding=”async” class=”alignnone wp-image-422039″ src=”https://www.theindiaprint.com/wp-content/uploads/2024/02/theindiaprint.com-tvs-mobility-and-mitsubishi-corp-collaborate-to-create-a-car-service-ecosystem-tni-750×422.jpg” alt=”theindiaprint.com tvs mobility and mitsubishi corp collaborate to create a car service ecosystem tni” width=”1074″ height=”604″ title=”TVS Mobility and Mitsubishi Corp. collaborate to create a car service ecosystem 15″ srcset=”https://www.theindiaprint.com/wp-content/uploads/2024/02/theindiaprint.com-tvs-mobility-and-mitsubishi-corp-collaborate-to-create-a-car-service-ecosystem-tni-750×422.jpg 750w, https://www.theindiaprint.com/wp-content/uploads/2024/02/theindiaprint.com-tvs-mobility-and-mitsubishi-corp-collaborate-to-create-a-car-service-ecosystem-tni-1024×576.jpg 1024w, https://www.theindiaprint.com/wp-content/uploads/2024/02/theindiaprint.com-tvs-mobility-and-mitsubishi-corp-collaborate-to-create-a-car-service-ecosystem-tni-768×432.jpg 768w, https://www.theindiaprint.com/wp-content/uploads/2024/02/theindiaprint.com-tvs-mobility-and-mitsubishi-corp-collaborate-to-create-a-car-service-ecosystem-tni-390×220.jpg 390w, https://www.theindiaprint.com/wp-content/uploads/2024/02/theindiaprint.com-tvs-mobility-and-mitsubishi-corp-collaborate-to-create-a-car-service-ecosystem-tni-150×84.jpg 150w, https://www.theindiaprint.com/wp-content/uploads/2024/02/theindiaprint.com-tvs-mobility-and-mitsubishi-corp-collaborate-to-create-a-car-service-ecosystem-tni.jpg 1200w” sizes=”(max-width: 1074px) 100vw, 1074px” /></p>
<p>With an initial expenditure of R300 crore, MC hopes to increase the number of people who own passenger cars, commercial vehicles, and material handling equipment (MHE). Regulatory clearance is a prerequisite for the transaction.</p>
<p>As a result, TVS Mobility’s dealership business will become TVS Vehicle Mobility Solution (TVS VMS), providing a comprehensive portfolio. “TVS Mobility has led the automotive industry in sales, servicing, and distribution with their</p>
<p>Indian dealership enterprise. TVS will be able to provide a variety of solutions for the whole vehicle mobility ecosystem thanks to this partnership with MC. said R Dinesh, TVS Mobility’s Director. According to him, this will concentrate on businesses, corporations, or fleet owners and broaden our collaboration with automakers to provide comprehensive solutions including vehicle sales, vehicle operations, and “Vehicle-as-a-Service.”</p>
<p>The holding company for the companies run by the T S Rajam family is TVS Mobility Group. From T V Sundram Iyengar and Sons Private Limited, it has separated. The group’s businesses, which include the production of tires and component parts, a platform for the distribution of parts, and services for the aftermarket and retail car industry, generate a combined revenue of almost $3 billion annually.</p>
<p>In the next three to five years, the business model may generate $2 billion in income, according to a statement from TVS Mobility.</p>
<p>According to Shigeru Wakabayashi, CEO of Mitsubishi Corporation’s Automotive and Mobility Group, “investment in TVS VMS broadens MC’s investment coverage through enhanced service capabilities and covers not only after-sales services and multi-brand sales, but also vehicle-as-a-service models.”</p>