Murugappa Group’s company Tube Investments of India’s subsidiary, TI Clean Mobility (TCM) has decided to venture in the electric vehicle segment with the launch of Montra Electric 3W Auto in Chennai.
The launch is part of the group’s strategy to focus aggressively on electric vehicles by introducing e-three-wheeler products under the brand Montra Electric, electric tractors under the Cellestial Egat brand, and electric heavy commercial vehicles through the Rhino 5536.
The company said products in each of these categories will be launched within six months.
TCM Managing Director K K Paul said there will be three manufacturing facilities for each of these segments — one in Ambattur for Montra Electric, the other on the Chennai-Bengaluru highway for Cellestial, and one in Delhi-NCR for Rhino 5536.
The firm announced in August that it would be investing about Rs 1,000 crore to create at least four platforms in the EV segment. The price of the Montra electric 3W range will start at Rs 3,02,000 (ex-showroom post-subsidy).
The vehicle will be available in over 100 dealerships across the country. TII has a share of about 25 per cent in India’s bicycle market and makes iconic brands, such as BSA and Hercules.
“We’ve invested our best resources and time to develop this product… With Montra Electric, we are striving to attain carbon neutrality. Electric 3W is one of the EV segments with the biggest growth potential,” said Arun Murugappan, executive chairman, Tube Investments of India.
He recently said the electric three-wheeler market will touch $1.7 billion by 2025, from $800 million currently, and hence, the firm is betting big on the segment.
“This segment will have a significant impact on India’s effort to achieve net-zero carbon emissions by 2070. We believe it is our duty, as a clean mobility pioneer and indigenous business house, to collaborate with the Indian government to help realise its vision for a sustainable future,” he said.
The company said its new vehicle is set to revolutionize last-mile mobility in India, with its distinct looks, powerful performance and robust build quality.
Manufactured in TI Clean Mobility’s unit at Ambattur, Chennai, Montra Electric 3W will be available in phases across the nation, starting in south India. The plan is to initially come up with a capacity of 75,000 units per year.
Montra Electric 3W is packed with innovation and several industry-firsts, including a 10 kWh (kilo watt hour) battery pack, a superior range of 197 km, peak torque of 60 Nm, and a top speed of 55 kmph.
Paul said the installed capacity for three-wheelers will be around 75,000 units per annum. For the tractor, the initial capacity would be around 30,000-35,000. The company will also be looking at making use of the 3,500-odd direct dealer points for bicycles to expand its presence in the EV segment.
“Safety & endurance is the priority. Montra Electric 3W is manufactured using superior materials, delivering complete peace of mind. The segment-leading performance is complemented with super comfort using the double-fork front suspension, a car-like driver’s seat and better cushioning,” Paul said.