Eagers Automotive unveils strategic alliance with Mitsubishi
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The news: Vehicle dealership operator Eagers Automotive has announced a strategic alliance with Japanese multinational Mitsubishi Corporation, aiming to explore collaboration initiatives and business opportunities across the automotive and mobility sector.
The context: Eagers said the alliance will help accelerate growth opportunities domestically and internationally across the company's new vehicle dealership network and independent used car business. It will also explore business opportunities across financial services, fleet management and lifecycle ownership solutions for new energy vehicles.
Mitsubishi already has a presence in Australia across the mineral resources, environmental energy and mobility sectors. Its mobility group's core business in Australia is the distribution of Isuzu vehicles, primarily through Isuzu UTE Australia, which will continue to operate independently of Eagers' strategic alliance.
What they said: "Partnering with such a high-quality, large scale investment powerhouse in Mitsubishi Corporation represents a compelling opportunity for Eagers Automotive," said chief executive Keith Thornton.
"This alliance provides a runway of significant opportunities for growth, both here and overseas, leveraging Mitsubishi Corporation's deep industry experience, geographic reach and market insights as both a strategic investor and leading operator in the global automotive and mobility sector."
The source: ASX
