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A report suggest that a locally based automotive component manufacturer will be giving Mitsubishi the financial aid it needs to make an impact
Mitsubishi was a very popular brand in India back in the day, its fame coming courtesy the numerous rally wins. This motorsport credential meant Lancer was a mainstream alternative to the likes of the Honda City VTEC and the Pajero (the many, many time Dakar contender) was a seriously impressive contender in the SUV space too. However, soon after, while competitors continuously updated their cars with new technologies, Mitsubishi didn’t keep up. Their dealership and workshop network wasn’t the best either. Slowly, but surely, the brand became a niche offering for those enthusiasts that loved its heritage and the bulletproof reliability, but it found less and less favour among the masses. Now though there are rumours that the company is going to focus on our market.
The report by Financial Express has not put forth many details about the Japanese manufacturers entry. However, it does tell us that the investor is a major automotive component manufacturer based out of Jamshedpur. Currently, the company is in talks with HMCL, post which a committee will be set up to audit and check the assets and liabilities. Financial Express says the process is expected to be completed by mid-June. “Post this, Mitsubishi India will contact Mitsubishi Japan to finalise the deal”.
An announcement is rumoured to be made in the coming months and the investment amount is said to be in the ballpark of Rs 500 crore. Mitsubishi India is also said to dictate what models come to India, unlike before where Mitsubishi Japan was doing the decision making. The report highlights that Mitsubishi will be launching SUVs to rival the likes of the Hyundai Creta and the Toyota Fortuner.
We cannot confirm how much of the report is substance, and how much is speculation. There is certainly a ray of hope though. Mitsubishi is a world leader in making robust, go-anywhere SUVs, and with the market favouring SUVs at the moment, it would make sense for Mitsubishi to bring some new ones in India. However, with the dealership network needing a major overhaul and the market being heavily affected by the COVID-19 pandemic, don’t expect there to be a new Mitsubishi in India anytime this year.
Source: Financial Express