Murugappa Group enters India’s EV market, will roll out e-auto and cargo three-wheeler
Will use its existing Montra brand in the last-mile commute, last-mile delivery and personal mobility vehicle segments.
TI Cycles of India (TII), part of the 121-year-old Murugappa Group has announced its entry into the electric vehicle market with its existing Montra brand and in the last-mile commute, last-mile delivery and personal mobility vehicle segments.
Under last mile commute, TII’s first venture will be in the three-wheel electric autos, which is expected to be launched in Q1 of FY22-23. In last mile delivery, it will introduce three-wheeler electric cargo vehicles. TII has already launched e-bicycles in the personal mobility segment.
Commenting on the announcement, Vellayan Subbiah, MD, Tube Investments of India said, “We have been an integral part of the mobility industry through our bicycle, automotive body/components and manufacturing businesses. Our foray into electric vehicles is a step forward in line with our long-term vision, to be an integral part of electric mobility and revolutionize the automotive segment through product and creating an ecosystem for the segment to flourish. The Montra logo is designed to symbolize our brand value and long-term ambition”.
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