Murugappa Group’s TI Clean Mobility to Enter E-Rickshaw Market as EV Investment Crosses ₹3,000 Crore

Key Highlights

• EV investment crosses ₹3,000 crore.

• E-rickshaw launch planned this year.

• Focus on the North and East India markets.

• 117 electric three-wheeler dealerships.

• Financing remains a key industry challenge.

The Murugappa Group’s electric mobility arm, TI Clean Mobility, is set to enter the e-rickshaw segment in India, further strengthening its presence in the commercial electric vehicle (EV) space. The group has already invested nearly ₹3,000 crore in electric mobility and plans to deploy more capital over the next two to three years as it expands operations across multiple EV platforms.

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Long-Term Commitment to Electric Mobility

Speaking at a dealership inauguration, Arun Murugappan, Executive Chairman of TI Clean Mobility and Tube Investments of India Limited, said the group remains confident about the long-term potential of electric mobility, even though the business is still at an early stage.

He confirmed that investments will continue as required, highlighting the group’s focus on building a strong and sustainable EV ecosystem in India.

Presence Across Four Electric Vehicle Platforms

TI Clean Mobility is currently active across four electric vehicle platforms:

• Small commercial vehicles

• Electric three-wheelers

• Electric tractors

• Heavy electric trucks

Manufacturing facilities for these platforms are already operational at Hosur, Pune and Manesar, ensuring readiness for scale-up.

Different Market Approaches for Each Segment

The company follows different go-to-market strategies based on the nature of each business.

• Electric tractors and heavy trucks are largely B2B-focused

• Small commercial vehicles and three-wheelers follow a B2C dealership-led model

Due to this mixed approach, dealership expansion is mainly relevant for the small commercial vehicle and three-wheeler segments.

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117 Three-Wheeler Dealerships, North India in Focus

Tivolt Electric Vehicles Private Limited, a subsidiary of TI Clean Mobility, has rapidly expanded its retail network in the electric three-wheeler segment. The company now operates 117 dealerships across India, including:

• 30 outlets in North India

• 6 outlets in the Delhi NCR region

According to Jalaj Gupta, Managing Director of TI Clean Mobility, Uttar Pradesh and Bihar are key markets due to their high three-wheeler demand. Expansion in these regions will continue as North India remains one of the largest three-wheeler markets in the country.

E-Rickshaw Launch Planned This Year

TI Clean Mobility has officially confirmed its entry into the electric rickshaw market, with a launch planned before the end of the current calendar year.

Saju Nair, CEO of Tivolt Electric Vehicles, explained that the company delayed its entry earlier due to the highly unregulated and unorganised nature of the e-rickshaw segment. The decision was taken only after clearer norms began to emerge.

North and East India to Lead E-Rickshaw Rollout

The initial e-rickshaw rollout will focus on North and East India, where demand for last-mile passenger mobility is strongest.

Key markets include:

• Uttar Pradesh

• Bihar

• Rajasthan

• Delhi NCR

These regions together account for the majority of India’s e-rickshaw volumes. Southern states, where e-rickshaws have a very limited presence, are not expected to see significant adoption in the near future.

Financing Challenges Continue for Commercial EVs

Despite the Murugappa Group’s strong financial position, access to vehicle finance remains a key challenge across all commercial EV segments. Executives noted that lenders are still cautious as EV technology is relatively new.

The company has partnered with multiple financial institutions, and expects financing conditions to improve gradually as regulatory clarity increases and more vehicle performance data becomes available. This is expected to support faster adoption of electric commercial vehicles in the coming years.

With its planned e-rickshaw entry and continued investment push, TI Clean Mobility is strengthening its position as a major player in India’s evolving electric commercial vehicle market.

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CMV360 Says

TI Clean Mobility’s planned entry into the e-rickshaw segment marks a key step in Murugappa Group’s long-term EV strategy. With nearly ₹3,000 crore already invested, a strong manufacturing base, and a focus on high-demand North and East Indian markets, the company aims to scale steadily. While financing challenges remain, improving regulations and market maturity are expected to support wider commercial EV adoption.