The Murugappa Group has acquired Cellestial E-Mobilityv

Cellestial eMobility is India's first electric tractor manufacturer.*

Cellestial E-Mobility Pvt Ltd, a start-up engaged in the design and development of electric tractors, has been acquired by TI Clean Mobility, a wholly owned subsidiary of Murugappa Group's Tube Investments of India (TII).

In line with its expansion plans for the electric vehicle industry, TI Clean Mobility has acquired the remaining 30.04% stake. Entering into a stock purchase agreement with Rs 50.90 crore in consideration. In January of last year, TII acquired a 69.96% stake in Cellestial for INR 161 Cr.

Cellestial E-Mobility manufactures three models (27hp, 35hp, and 55hp) with swappable batteries that are claimed to allow use for six hours before requiring a recharge. The Cellestial electric tractor, which has replaceable batteries, is said to have a lower total cost of ownership than current combustion engine tractors.

TII stated would invest Rs 350 crore in the new auxiliary for clean mobility through a combination of value, inclination, and debt instruments.

M.A.M Arunachalam, Chairman of TICMPL, stated in response to the acquisition, "The acquisition of the remaining Cellestial stake will help TICMPL consolidate its position in the electric tractor market and maximize the company's value. We value the contributions of the founders."

Under its current Montra brand, TI Cycles of India (TII) already announced its entry into the electric vehicle industry's last-mile commuting, last-mile delivery, and personal mobility vehicle segments in December 2021.

About Murugappa Group

With 29 businesses, the Murugappa Group, based in Chennai, is one of India's leading business conglomerates. Abrasives, technical ceramics, electro minerals, auto components and systems, power conversion equipment, and transformers are all market leaders for the Group.

About Cellestial eMobility

Siddhartha Durairajan and Syed Mubasheer founded the Hyderabad-based startup in 2019. Cellestial eMobility is India's first electric tractor manufacturer. The mission of the company is to revolutionize eMobility in India by manufacturing innovative automobiles that address sustainability and efficiency.

Features of Cellestial eMobility Tractors

• Cellestial e-Tractors are low in cost, pollution, maintenance, and noise.
• e-Tractors are powered by swappable, rechargeable batteries that charge in two hours from a household power source and can drive for six hours before needing to be recharged.
• The superior operational drive-by-wire technology incorporated in e-Tractors is controlled by an Intelligent Unit to eliminate physical elements in automobiles (ePEA).

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