Tube Investments of India (TII) is expanding its presence in the electric vehicle market by launching a new range of EVs, including cargo three-wheelers, rickshaws, tractors, and four electric heavy commercial vehicle variants. The company aims to tap into performing markets and increase its number of dealers
Tube Investments of India (TII), a Chennai-based company promoted by the Murugappa Group, is expanding its presence in the electric vehicle market. The company plans to launch a range of electric vehicles in the coming months, including three-wheeler cargo, rickshaws, tractors, and four electric heavy commercial vehicle (HCV) variants.
A few months ago, TII entered the electric vehicle market with an L5M passenger category three-wheeler under the Montra Electric brand and an HCV under the Rhino brand name. However, the company plans to expand its offerings in this segment.
According to Kalyan Kumar Paul, Managing Director of TI Clean Mobility Private Ltd. (TICMPL), a subsidiary of TII, the company will launch a cargo version of the three-wheeler in the next three months, followed by an e-rickshaw.
TII plans to aggressively foray into performing markets such as Uttar Pradesh, Bihar, Assam, Tripura, Kerala, and Jammu and Kashmir, which account for 70 percent of the industry volume. The company aims to appoint dealers in all these key markets and increase the number of dealers from 47 to 75 by the end of this year.
TII is also homologating its first tractor product, a 27-horsepower equivalent under Montra. The company is currently building the prototypes for field trials and homologation. The product is expected to hit the market by April–May 2024–25. In the small commercial vehicle segment, TII is building prototypes and testing the alpha vehicles on the road. Once testing is complete, the company will send them for homologation, and by April or June of next year, TII should be in the market.