Mitsubishi Corporation is all set to enter the Indian automobile car sales market this year. According to Reuters, the Japanese company has acquired a 32 per cent stake. As Nikkei Asia reported, Mitsubishi’s investment is expected to be in the region of $33 million to $66 million. Once the investment is finalized, with the help of TVS Mobility, Mitsubishi will set up its dealership across India.
Mitsubishi Corp plans for India
TVS Mobility already handles Honda Cars dealerships In India and the focus will be how to increase the Japanese brand’s network across the country. According to the Nikkei Asia report, once the investment is finalized, Mitsubishi will spearhead the negotiations with the Japanese brands and strategize how they can increase its reach and increase the model lineup for the Indian market.
Mitsubishi Corp to venture into EV market
Mitsubishi has plans to enter the electric vehicle segment in India. The EVs will be sold in the new dealerships. Based on a Reuters report in May 2023, Mitsubishi Electric Corp. announced that it will invest Rupees 18.91 billion ($231.2 million) to set up a manufacturing facility in Tamil Nadu. The company at that time had officially released a statement saying that it would employ over 2000 people for this project.
