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TVS Mobility and Mitsubishi Corporation are set to collaborate, with Mitsubishi acquiring approximately a 32% stake in a new entity formed as a spin-off of TVS Mobility's business. The agreement aims to bolster comprehensive mobility solutions, encompassing after-sales service, multi-brand sales, leasing, and other automotive operations.
"Mitsubishi Corporation has agreed to subscribe to shares (about 32%) in TVS Vehicle Mobility Solutions Pvt Ltd (TVS VMS) through private placement. The completion of these transactions is subject to approval by the relevant regulatory authorities," stated Mitsubishi Corporation in a recent announcement.
This strategic investment intends to leverage TVS Mobility's existing customer base and digital technology to enhance mobility offerings. It seeks to expand beyond traditional after-sales services and multi-brand sales to encompass leasing and other automotive operations.
Mitsubishi's previous investment in TVS Automobile Solutions (TASL), which includes a network of approximately 700 service centres and partnerships with 16,000 retailers of wholesale auto parts connected through digital technology, underscores the growing partnership between the two companies.
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