Montra Electric, the electric vehicle (EV) arm of the Murugappa Group, has set an ambitious revenue target of ₹700 crore for the current fiscal year, up from ₹182 crore in FY24. The company expects its electric heavy commercial vehicle (eHCV) division to contribute approximately 50% of this revenue, highlighting its strategic focus on commercial EVs in India.
As part of its growth plan, Montra Electric recently launched the Rhino 5538 EV 4×2 TT, a 5-tonne electric truck, at its Manesar plant in Haryana. The launch witnessed the delivery of 130 pre-booked units on the first day. The company plans to achieve over 700 deliveries by the end of this year and aims to scale production to 7,000 vehicles annually within the next five years.
Montra Electric has invested around ₹3,000 crore across multiple segments, including heavy, small, and medium commercial vehicles, last-mile three-wheelers, and electric tractors, with a major focus on the eHCV business. The company has also applied for the PM E-DRIVE scheme for its Rhino 5538 EV 4×2 TT and 6×4 TT models, with certification expected by October 2025.
The Manesar facility incorporates Industry 4.0 practices, with around 60% of manufacturing processes being robotic. The plant also houses an all-women-run automated battery facility, now fully automated, and an advanced vehicle assembly line featuring automated guided vehicles (AGVs) and conveyor systems to boost efficiency.
With strong backing from the Murugappa Group’s 125-year legacy, Montra Electric is positioning itself as a key player in India’s electric commercial vehicle sector, leveraging innovation, sustainability, and advanced manufacturing to drive growth.
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