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Tube Investments of India to expand presence in EV segment

Monday, 22 Jan 2024
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Chennai-based Tube Investments of India (TII) is set to expand its presence in the electric vehicles segment through a series of launches in the coming months. The launches comprise a three-wheeler cargo, rickshaw, tractors and four variants of electric heavy commercial vehicles (HCVs).

The company which at present has an L5M or passenger category three-wheeler, under the brand name Rhino, is going to come up with a cargo version in the next three months, followed by e-rickshaw. TII will make the EV moves through its subsidiary TI Clean Mobility (TICMPL).

In the three-wheeler segment, the company is planning to foray into high-volume regions including Uttar Pradesh, Bihar, Assam, Tripura, Kerala and Jammu and Kashmir and is appointing dealers in all these key markets. At present, the company has 47 dealers, of which 42 are in the South, and has set a target of having 75 dealers by the end of this year.

Tractors are under the process of homologation (certification) and the product will hit the markets by the April-May period of FY25. Its first product, which is a 27-horsepower equivalent will be under the brand name of Montra. In the small commercial vehicles, it is building the prototypes and once testing is done, it is likely to launch by April or June of next year. The company is also considering bringing Montra brand HCVs.

TICMPL has come out with a long-term roadmap for 2027-28. Now, two-wheelers and tractors will come with Montra electric. The company is building Montra Electric as the brand for the EV initiative.

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