Mumbai, February 22, 2024: Mitsubishi Corporation is gearing up to leave its mark on the Indian automobile industry this year, aiming to breathe new life into the Indian automobile industry. The respected Japanese company has successfully acquired a 32% stake, representing a pivotal achievement in its ongoing expansion strategy.
As highlighted by Reuters and Nikkei Asia, the investment is reported to be between $33 million and $66 million, with Mitsubishi Corporation gearing up to establish a pan-India presence. Mitsubishi Motors is collaborating with TVS Mobility, known for its successful management of Honda automobile dealerships, with the aim of establishing a strong dealership network across the country.
The partnership with TVS Mobility demonstrates Mitsubishi’s strategic approach to strengthening its brand awareness and market reach. As detailed by Nikkei Asia, strategies are already underway to focus on strengthening the Japanese brand’s network, negotiating with key stakeholders and expanding its model lineup.
But Mitsubishi’s ambitions go beyond traditional cars. The company is aiming to revolutionize the Indian automobile industry by entering the electric vehicle (EV) field. As reported by Reuters in May 2023, Mitsubishi Electric is investing Rs 18.91 billion to set up a state-of-the-art manufacturing facility in Tamil Nadu, building on its commitment to sustainability and innovation. announced a huge investment of $31.2 million.
This visionary initiative not only redefines India’s EV market but also promises significant economic benefits, including the creation of over 2,000 job opportunities. Mitsubishi Motors’ entry into the EV space underscores the company’s dedication to pioneering technologies that meet India’s burgeoning demand for eco-friendly transportation solutions.