Bengaluru, 19th February, 2024: TVS Mobility (Demerged from T V Sundram Iyengar & Sons Private Limited), operates in the Indian Automotive Distribution and Aftermarket Industry. It has established manufacturing (components), and integrated aftermarket platform in India. Today, TVS Mobility announced a Joint Venture with the Japanese conglomerate Mitsubishi Corporation (MC), a globally integrated business enterprise with a network of around 1,700 group companies, to establish a comprehensive vehicle mobility ecosystem in India. With this, the dealership business of TVS Mobility will transform into TVS Vehicle Mobility Solution (TVS VMS) – offering a complete portfolio of services to its customers and will herald a transformation in the Indian automotive landscape. The deal is subject to the approval by the relevant regulatory authorities.
MC will initially invest Rs 300 crores with both parties committed to support the growth of this venture. This investment is intended to propel the parties’ vision in relation to vehicle ownership in Passenger Cars, Commercial Vehicles and Material Handling Equipment (MHE). The business model will have the potential to achieve $2bn revenue in the next 3-5 years’ time.
“TVS Mobility, had pioneered the sales, service and distribution of vehicles market through its dealership business in India. This collaboration with MC will enable TVS to provide a range of solutions to the entire vehicle mobility ecosystem.” said Mr. R. Dinesh, Director, TVS Mobility.
He further added, “After providing integrated and digital platforms for the independent Aftermarket, the Vehicle Mobility business will provide innovative and digitally enabled solutions to our customers, be it enterprises, corporates or fleet owners and expand our partnership with vehicle manufacturers to provide integrated solutions across vehicle sales, operating of vehicles and ‘Vehicle-as-a-Service’ (Micromobility) solutions. This partnership will work closely with other stakeholders to provide a solution for all such stakeholders”.
MC, besides its investment, will bring in its global experience and share its best practices to scale up this business model faster.
“India has the world’s third-largest market for new automobiles with sales topping five million vehicles in 2023 and expected to grow at 6-7% in the next few years. To gain a downstream foothold in the rapidly growing Indian market, MC has been fostering its relationship with TVS Mobility group including the investment in the after-sales services provider TVS Automobile Solutions (TASL). The latest investment in the multi-brand dealer TVS VMS widens MC’s investment coverage through enhanced service capabilities even further and should propel its aim to develop comprehensive mobility solutions spanning not only after-sales services and multi-brand sales, but also vehicle-as-a-service model, and other automotive operations.” said Mr. Shigeru Wakabayashi, CEO of Automotive and Mobility Group at Mitsubishi Corporation
New Delhi 19th February 2024: Nova Dairy along with Solidaridad Regional Expertise Centre had started a transformative program in Fatehabad, Uttar Pradesh, in 2021. focusing on promoting climate smart dairy practices benefitting the farmers and reducing the GHGs emissions from the dairy supply chain on ground.
Mumbai, 19th February, 2024: The Aditya School of Business Management is pleased to announce that Dr. A.S. Suresh Iyer has been appointed as its new director. Together with his 12 years of teaching experience, Dr. Iyer brings with him over 24 years of industrial expertise. Dr. Iyer is well-positioned to take the organization to new heights of success thanks to his extensive background in both academia and administration.
The Hyatt Regency Dehradun Resort and Spa has announced the appointment of Ananda Shete as the new Safety & Security Manager, reaffirming their commitment to guest safety and property security. With over 16+ years of extensive experience in security management, Shete brings a wealth of expertise to his new role.
Eastern India focused GPT Healthcare, which operates and manages mid-sized multispecialty hospitals under the ILS Hospitals brand, has fixed the price band of ₹177- to ₹186 per Equity Share of face value ₹10/- each for its maiden initial public offer. The Initial Public Offering (“IPO” or “Offer”) of the Company will open on Thursday, February 22, 2024, for subscription and close on Monday, February 26, 2024. Investors can bid for a minimum of 80Equity Shares and in multiples of 80 Equity Shares thereafter.
India-wide release, 19th February 2024: In an unprecedented phenomenon,
Visakhapatnam: February 19th, 2024: Adani Gangavaram Port the deepest and the most modern port in the country proudly hosted the most prestigious Indian Aircraft Carrier INS Vikramaditya at port on the eve of its participation in MILAN 24 – A grand naval exercise. The Aircraft carrier sailed out to participate in the exercises today. INS Vikramaditya is a prominent aircraft carrier in the Indian Navy which enhances India’s maritime defense posture and power projection capabilities in the Indian Ocean region. It has played a vital role in safeguarding India’s maritime interests and ensuring regional security.