Monday, June 17, 2024
spot_img
HomeBusinessCCI approves Mitsubishi Corporation's investment in TVS Certified and TVS Vehicle Mobility...

CCI approves Mitsubishi Corporation’s investment in TVS Certified and TVS Vehicle Mobility Solutions


The Competition Commission of India (CCI) has approved Mitsubishi Corporation’s acquisition of an equity stake in TVS Certified Private Limited and TVS Vehicle Mobility Solution Private Limited.

The TVS Motor Company’s logo (Representational)(HT Archive)

According to CCI press release, this decision marks a development in the Indian market, enhancing Mitsubishi’s footprint and supporting TVS’s strategic growth.

Date mein Crickit, late mein Crickit! Catch the game anytime, anywhere on Crickit. Find out how

The approval pertains to Mitsubishi Corporation acquiring a strategic equity position in TVS Certified Private Limited and TVS Vehicle Mobility Solution Private Limited.

Also Read | Aspiring actor arrested for posing as police officer, robbing bikes, mobiles

The CCI’s nod facilitates Mitsubishi’s expansion into India’s thriving automotive sector, aligning with its global strategy of diversifying and strengthening its presence across various industries.

Mitsubishi, with its extensive global reach and diverse portfolio, operates across 90 countries and regions, managing approximately 1,700 group companies worldwide.

Also Read | Passenger vehicle exports rise by 2.68 lakh units in 4 years; 70 percent is Maruti Suzuki

Its operations span multiple sectors, including natural gas, industrial materials, petroleum and chemicals, mineral resources, industrial infrastructure, automotive and mobility, food industry, consumer industry, power solutions, and urban development, read the press release.

TVS Certified will focus on the used vehicle market, conducting auctions primarily through offline channels in physical auction yards.

This initiative aims to streamline the sale of pre-owned vehicles, providing a structured and reliable platform for buyers and sellers, thus boosting transparency and efficiency in the used vehicle market.

Also Read | Long queues of vehicles at CNG pumps across Pune

TVS Vehicle Mobility Solution is set to operate in domains- Dealership and Distribution: Handling commercial and passenger vehicles, including electric vehicles (EVs), construction equipment, and material handling vehicles.

This will enhance the accessibility and availability of diverse vehicle options for Indian consumers.

Motor Vehicle Services- Offering dealership and distribution of spare parts for vehicles, catering to specific manufacturers, thereby strengthening the service infrastructure and support for vehicle owners.



Source link

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -
Google search engine

Most Popular

Recent Comments