Chennai-based TVS Mobility and Japan’s Mitsubishi Corporation have announced a joint venture to establish a complete vehicle service ecosystem. Mitsubishi will initially invest INR 300 crore ($40 million) in the venture, focusing on enterprises, corporates, and fleet owners. The collaboration aims to provide integrated solutions across vehicle sales, operating vehicles, and ‘Vehicle-as-a-Service.’ The joint venture, named TVS Vehicle Mobility Solution (TVS VMS), is subject to regulatory approval. The business model is expected to achieve $2 billion in revenue over the next 3-5 years.