The Competition Commission of India (CCI) has given its nod for Mitsubishi Corporation to acquire equity stakes in TVS Certified Private Limited and TVS Vehicle Mobility Solution Private Limited. This approval marks a significant development in the Indian automotive and mobility sectors.
The acquisition involves Mitsubishi Corporation, a global integrated business enterprise, obtaining an equity stake in TVS Certified Private Limited (Target 1) and TVS Vehicle Mobility Solution Private Limited (Target 2). Mitsubishi Corporation operates across various industries, including natural gas, industrial materials, petroleum and chemicals, mineral resources, industrial infrastructure, automotive and mobility, food industry, consumer industry, power solutions, and urban development. With offices and subsidiaries in 90 countries and regions, and approximately 1,700 group companies globally, Mitsubishi Corporation brings extensive expertise and resources to this acquisition.
Target 1: TVS Certified Private Limited
TVS Certified Private Limited will focus on the sale of used vehicles through auctions, primarily conducted in offline physical auction yards. This business model aims to streamline and enhance the used vehicle market in India, providing a structured and reliable platform for buyers and sellers.
Target 2: TVS Vehicle Mobility Solution Private Limited
TVS Vehicle Mobility Solution Private Limited will engage in a broad range of activities, including:
- Dealership and distribution of commercial vehicles, passenger vehicles, electric vehicles, construction equipment, and material handling vehicles.
- Providing motor vehicle services and managing dealership and distribution of spare parts for vehicles from specific manufacturers.
The acquisition aligns with Mitsubishi Corporation’s strategy to expand its footprint in the automotive and mobility sectors, leveraging its global presence and diversified operations to support TVS in scaling its business and enhancing its service offerings.
This strategic investment is expected to bring substantial benefits to both TVS Certified and TVS Vehicle Mobility Solution, fostering growth and innovation in their respective markets. By combining Mitsubishi Corporation’s global expertise with TVS’s established market presence in India, the partnership aims to deliver enhanced value to customers and stakeholders.
