Murugappa Group to enter EV business, launch three-wheelers by Sept

Murugappa Group will also manufacture electric tractors this year through subsidiary

The Murugappa Group will launch an electric three-wheeler brand called Montra by September and invest Rs 200 crore in the segment, said a senior executive on Monday.

The electric vehicles (EV) business comes under TI Clean Mobility (TCM), a fully-owned subsidiary of Tube Investments of India (TII), the makers of bicycle brands like BSA and Hercules and part of the Murugappa Group.

TCM will this year manufacture electric tractors through Cellestial E-Mobility, where the group bought a controlling stake of 70 per cent for Rs 161 crore.

“Montra electric three-wheelers will be launched by August-September this year. For electric three-wheelers