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TVS Mobility and Mitsubishi Corporation have formed a joint venture to establish a comprehensive vehicle mobility ecosystem in India. Mitsubishi will initially invest Rs 300 crore, and both parties aim to support the growth of the joint venture. The collaboration will transform TVS Mobility's dealership business into TVS Vehicle Mobility Solution (TVS VMS), offering a complete portfolio of services to customers.

TVS Mobility will spin off its car sales business, with Mitsubishi taking a stake of over 30 percent in the new entity, a Nikkei Asia report said.

As per the details shared by Nikkei Asia, Mitsubishi is expected to invest around 5 billion to 10 billion yen ($33 million to $66 million) to setup the business again in India.

Mitsubishi JV With TVS Mobility: The collaboration aims to establish a comprehensive vehicle mobility ecosystem in India, transforming TVS Mobility's dealership business into TVS Vehicle Mobility Solution (TVS VMS).

TVS Mobility, a part of the TVS Group, has formed a joint venture with Japanese conglomerate Mitsubishi Corporation, with Mitsubishi investing INR 300 crore ($40 million) for a 32% stake in TVS Vehicles Mobility Solutions (TVS VMS), a newly formed subsidiary. The partnership aims to establish a comprehensive vehicle mobility ecosystem in India, focusing on passenger cars, commercial vehicles, and material handling equipment.