TI Clean Mobility's Ambitious $1 Billion Electric Leap

TI Clean Mobility, part of Murugappa Group, aims for a $1 billion turnover within 4-5 years by launching new electric vehicles across various segments. The company plans to accelerate its EV expansion, leveraging government subsidies and exploring diverse markets while investing in manufacturing capabilities.

TI Clean Mobility, a Murugappa Group entity, has set its sights on achieving a $1 billion turnover within the next 4-5 years. The company plans to expedite the introduction of new electric vehicles as part of this ambitious vision, as revealed by Managing Director Jalaj Gupta.

The firm, already having a range of electric vehicles under the 'Montra Electric' brand, has entered the three-wheeler cargo segment. Plans include launching electric tractors, new variants in the heavy commercial vehicle segment, and expanding into the e-rickshaw market. The initiative aligns with leveraging government subsidies for electric ambulances and buses.

To support this growth, TICMPL has invested in four manufacturing units and is focusing on expanding its market presence. It aims to increase its reach from 101 to 150 markets in India, promoting new products and leveraging its production capabilities to meet the rising demand for sustainable transport solutions.

(With inputs from agencies.)