The roll out is expected by the second half of the current year, said Vellayan Subbaiah, MD,
The roll out is expected by the second half of the current year, said Vellayan Subbaiah, MD,
Tube Investments of India Limited (TII) is eyeing the electric tractor and three wheeler segment as it offers huge opportunities. The roll out is expected by the second half of the current year, Vellayan Subbaiah, MD, said.
“The Murugappa Group firm chose these two segments as category first and second as they are very ripe for disruption and the cross over point between EV and ICE will happen much earlier than other vehicles,” he said during the Q3 earnings call .
Firstly, TII will bring three wheelers by July/August, along with tractors of low horsepower, by July or much earlier. Apart from this, he is also eyeing the e-cycle.
Mentioning that he is excited about TII’s entry into the tractor sector, he said that in India, about 80% of the market is between 40 and 50 hp and they will come up with lower hp tractors by the July deadline, if Not the first in the market. “So, we definitely intend to enter the etractor segment,” he said.
Stating that the daily running cost of a diesel tractor, especially during the farming season, is very high due to the consumption of diesel, he said that’s why TII started playing up the economics of going to the battery.
On the EV three-wheeler launch, he said that there has been a slight delay. But, it will be in late July or early August. Initially, it will focus on the domestic market and later determine how soon it can enter the export market.
Asked if TII is looking for partners in the EV sector, he said: “Yes, this is an opportunity. We certainly think at the right time that if there are partners of interest, we will do so.”
Mr Subbaiah further said that they are going to stay away from electric two-wheelers and passenger cars, as TII wants to be on the productive end of the spectrum versus consumables, which are more consumables.
Elaborating further, he added that the company was focusing on the more productive end of the spectrum where the vehicle is actually an asset that generates income for the owner. “Definitely that’s the case” with three-wheelers.
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