Latest news with #TICleanMobility
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Business Standard
6 hours ago
- Automotive
- Business Standard
Rare earth-free EV motor 3 years away, says Montra MD Jalaj Gupta
India's automobile industry is currently facing a rare earth magnet shortage after China -- which supplies over 80 per cent of India's magnet imports -- imposed stricter export controls in April 2025 Deepak Patel New Delhi Listen to This Article The rare earth magnet shortage is a concern for everyone in the automobile industry and the issue should get resolved soon, said Jalaj Gupta, managing director of TI Clean Mobility, which goes by the brand name Montra Electric and is part of the ₹80,000 crore Murugappa group. 'Can you do an electric vehicle's motor without these rare earth magnets? The answer is yes. How long will it take (to develop such a motor)? It will take a minimum 2–3 years,' Gupta told Business Standard on the sidelines of the launch of the firm's three-wheeler, Super Cargo, in Delhi.
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Business Standard
11 hours ago
- Automotive
- Business Standard
TI Clean Mobility aims for $1 billion turnover by FY30 with EV push
Murugappa Group firm TI Clean Mobility is targeting a turnover of ₹1 billion in the next 4-5 years for which it will fast-track introduction of new electric vehicles, its Managing Director Jalaj Gupta said on Friday. The company, which sells a range of electric vehicles, including heavy and small commercial vehicles, tractor and passenger three-wheelers under the 'Montra Electric' brand on Friday announced its foray into three-wheeler cargo segment. "Our larger objective is to be a ₹ 1 billion turnover (firm) all put together... We are looking at a time frame of four to five years, FY29 or FY30, to achieve this," Gupta told PTI here. In FY25, he said the company clocked a consolidated turnover of Rs 650 crore. The company has completed raising of Rs 3,000 crore and currently investments are ongoing in various aspects, including new product development, he added. In the next 6 to 12 months, he said the company is looking at adding an electric tractor in the 40-50 horse power (HP) segment to the existing 27 HP. Besides, the company is planning to launch variants in the heavy commercial vehicle (HCV) segment, inducing tippers. In the small vehicle segment (SCV), Gupta said TI Clean Mobility Pvt Ltd (TICMPL) is looking at electric ambulance to tap opportunity of subsidy offered by the government, besides electric bus on its existing 3.5 tonne platform. As for electric three-wheelers, the company will look at entering e-rickshaw segment, while also considering to offer "either a lower or higher battery" option over and above its existing 10.6 kilowatt battery that powers the passenger autorickshaw at present, Gupta said. On its ₹ 1 billion target, he said, "About 50 per cent should be coming from the HCV, 20 per cent from SCV, 20 per cent from three-wheeler and 10 per cent from tractor business." Further, Gupta said TICMPL has invested in four manufacturing units -- three in and around Chennai and one in Manesar, Haryana -- to produce its range of electric vehicles. "We have already created capacities which we feel are sufficient to take care of at least next couple of years," he noted. The HCV facility at Manesar has an annual capacity of up to 6,000 units. For SCV, the company has an annual capacity of 50,000 units and the three-wheeler capacity is 70,000 units across passenger and cargo variants. Gupta said the company's electric tractor production capacity is 25,000 units per annum. TICMPL's new electric three-wheeler SUPER CARGO prices start at Rs 4.37 lakh (ex-showroom Delhi, post-subsidy) and marks the company's entry in the highly strategic last-mile delivery space. It has a range of over 200 km on standard testing conditions and real-life range of 170 km, the company said. It is powered by a 13.8 kWh lithium-ion battery and will also be available with a 15-minute 100 per cent charging option. In the three-wheeler segment, the company has a presence in 101 different markets in India and plans to reach 150 markets in FY26. It has sold over 10,000 units so far.
Time of India
12 hours ago
- Automotive
- Time of India
TI Clean Mobility eyes $1 bn turnover in 4-5 years
Murugappa Group firm TI Clean Mobility is targeting a turnover of USD 1 billion in the next 4-5 years for which it will fast-track introduction of new electric vehicles , its Managing Director Jalaj Gupta said on Friday. The company, which sells a range of electric vehicles, including heavy and small commercial vehicles, tractor and passenger three-wheelers under the 'Montra Electric' brand on Friday announced its foray into three-wheeler cargo segment . "Our larger objective is to be a USD 1 billion turnover (firm) all put together... We are looking at a time frame of four to five years, FY29 or FY30, to achieve this," Gupta told PTI here. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. EV calculator How much will I save if I choose an electric vehicle? SELECT vehicle type Calculate by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Play War Thunder now for free War Thunder Play Now Undo In FY25, he said the company clocked a consolidated turnover of Rs 650 crore. The company has completed raising of Rs 3,000 crore and currently investments are ongoing in various aspects, including new product development, he added. Live Events In the next 6 to 12 months, he said the company is looking at adding an electric tractor in the 40-50 horse power (HP) segment to the existing 27 HP. Besides, the company is planning to launch variants in the heavy commercial vehicle (HCV) segment, inducing tippers. In the small vehicle segment (SCV), Gupta said TI Clean Mobility Pvt Ltd (TICMPL) is looking at electric ambulance to tap opportunity of subsidy offered by the government, besides electric bus on its existing 3.5 tonne platform. As for electric three-wheelers, the company will look at entering e-rickshaw segment, while also considering to offer "either a lower or higher battery" option over and above its existing 10.6 kilowatt battery that powers the passenger autorickshaw at present, Gupta said. On its USD 1 billion target, he said, "About 50 per cent should be coming from the HCV, 20 per cent from SCV, 20 per cent from three-wheeler and 10 per cent from tractor business." Further, Gupta said TICMPL has invested in four manufacturing units -- three in and around Chennai and one in Manesar, Haryana -- to produce its range of electric vehicles. "We have already created capacities which we feel are sufficient to take care of at least next couple of years," he noted. The HCV facility at Manesar has an annual capacity of up to 6,000 units. For SCV, the company has an annual capacity of 50,000 units and the three-wheeler capacity is 70,000 units across passenger and cargo variants. Gupta said the company's electric tractor production capacity is 25,000 units per annum. TICMPL's new electric three-wheeler SUPER CARGO prices start at Rs 4.37 lakh (ex-showroom Delhi, post-subsidy) and marks the company's entry in the highly strategic last-mile delivery space. It has a range of over 200 km on standard testing conditions and real-life range of 170 km, the company said. It is powered by a 13.8 kWh lithium-ion battery and will also be available with a 15-minute 100 per cent charging option. In the three-wheeler segment, the company has a presence in 101 different markets in India and plans to reach 150 markets in FY26. It has sold over 10,000 units so far.
