Mitsubishi Corp to hike stake in TVS Automobile Solutions from 3% to 25%

Japanese firm will work to expand TASL's business and participate in Indian market by introducing Japanese automotive parts suppliers and enhancing price competitive parts line-ups for TASL

TVS Automobile Solutions Private Limited (TASL), one of India’s leading independent aftermarket players and part of the $8.5 bn TVS group, has announced strategic partnership with Mitsubishi Corporation (MC), Japan. Mitsubishi will take a substantial minority stake in the company. 

The agreement is subject to approval by Competition Commission of India (CCI) & other relevant authorities, said R Dinesh, director, TVS Automobile Solutions.

Mitsubishi Corporation will increase its stake from three per cent to 25 per cent in TASL through a combination of primary investment and secondary purchase. The total investment will amount to Rs 250 crore. It had invested