Murugappa Electric Tractor: The Murugappa Group through TI Electric will launch electric tractors, three wheelers. – times of India

of Chennai Murugappa Group is all set to enter the EV space with a newly formed entity, which will be known as TI Electric The group company, Tube Investments India (TII), under the cycle joint venture of Murugappa. TI Electric will reportedly foray into the space with electric three-wheelers, tractors and possibly other variants. Standalone Rs 5,600 crore TII, with its new project will target both the passenger and commercial EV segments. This is the second time that the Murugappa Group is foraying into the EV space.

The market launch of TI Electric is expected between August-September 2022. The Murugappa Group has reportedly acquired 70 per cent stake in Celestial E-Mobility for Rs 161 crore for its e-tractor business. E-Tractor Strap was established in Hyderabad and currently offers 27, 35 and 55 HP e-tractors with advanced features like wireless steering, frictionless braking and more.

For the electric three-wheeler business, TII will use its bicycle brand name montra, They are also planning to set up a production facility in Ambattur, Chennai. The facility is expected to have a capacity to produce 75,000 three-wheelers every year. During the ongoing lightning wave, Murugappa is betting big by venturing into the group’s space electric tractor and commercial three-wheelers that will serve the agriculture and logistics sectors. In 2012, the group made its first foray into the electric scooter sector with BSA. However, at that time that business failed to grow and the Murugappa Group ended up running out of space.