Mitsubishi to pick up 32% in TVS Mobility spin out

Japan’s Mitsubishi Corp is to pick up a 32% stake in a new company, TVS Vehicle Mobility Solutions Pvt Ltd (TVS VMS), to be spun-off from TVS Mobility.TVS VMS will develop mobility solutions spanning after-sales services and multi-brand sales, leasing and other automotive operations.Previously, Mitsubishi had invested in TVS Automobile Solutions (TASL), a network of roughly 700 service centres, and partnerships with 16,000 retailers of wholesale auto parts connected through digital technology.