Following the successful launch of its Montra electric three-wheeler passenger auto, Tube Investments of India Ltd (TII) through its subsidiaries is planning to unveil electric cargo and e-rickshaw variants and e-bikes in FY25.
“At TII, we foresee immense growth opportunities in the EV segment. With favourable Government policies and the implementation of charging infrastructure, this segment is poised for exponential growth across all segments,” said its Managing Director Mukesh Ahuja in the annual report. TI Clean Mobility Pvt. Ltd (TICMPL), a subsidiary of TII, has four business units within electric mobility – 3 wheelers, tractors, medium & heavy and small commercial vehicles. Recently, it completed its targeted fund raise of ₹3,000 crore from TII and other investors to support its diverse electric vehicle ventures.
“While the e3w is performing well in southern markets and is presently entering the northern market, the e-HCV trucks are in the early stages of their sales cycle,” said Executive Chairman M.A.M Arunachalam.
Currently, e-tractors are undergoing rigorous testing for performance, battery efficiency and endurance. E-tractors will come in three variants. All these platforms are specifically engineered for agricultural and haulage needs. It will compete with conventional tractors in every way, presenting a compelling alternative. They feature cost-effectiveness, zero emissions and noise-free operation, powered by swappable, rechargeable batteries, the company said.
Initially, it will be launched in four states — Gujarat, Maharashtra, Karnataka and Tamil Nadu, with a robust dealer and service network that is under development. To meet the demand following promotional efforts post-launch, a state-of-the art plant is being established in Chennai.
TIVolt Electric Vehicles Pvt. Ltd., is set to address SCV segment. A new manufacturing facility is coming up at Gummidipundi, near Chennai for manufacture of the eSCV in the range of 2T to 3.5T. The range and utility are expected to be propositions of the vehicle. The first variant is currently in the testing phase. The prototypes are undergoing rigorous evaluations and are slated for market introduction in the Q2 of FY25, followed by development of new variants.
TII’s Mobility division plans to introduce e-bicycles tailored for the domestic market. After rigorous development stages, these products are currently undergoing trials and are scheduled for launch in the domestic market in FY25.
