TI Clean Mobility Targets $1 Billion Turnover by FY30, Expands EV Line-up

Key Highlights:

• TI Clean Mobility targets USD 1 billion turnover by FY30.
• Launches SUPER CARGO electric 3-wheeler, starts at ₹4.37 lakh.
• New EVs coming: tractors, tippers, ambulances, e-rickshaws.
• ₹3,000 crore raised; 4 plants set up for EV production.
• Present in 101 markets, aims for 150 by FY26; 10,000+ units sold.

TI Clean Mobility, under the Murugappa Group, plans to achieve a turnover of USD 1 billion (approximately ₹8,400 crore) within the next 4 to 5 years. The company plans to fast-track electric vehicle (EV) development and launch multiple new products across categories.

Entry into the Electric Cargo Three-Wheeler Segment

The company officially entered the electric cargo three-wheeler market with the launch of the Montra Electric SUPER CARGO. Priced from ₹4.37 lakh (ex-showroom Delhi, post-subsidy), the vehicle is designed for last-mile delivery and offers a real-world range of 170 km. It is powered by a 13.8 kWh lithium-ion battery and supports rapid charging with a 15-minute full-charge option.

Product Expansion Plans

Managing Director Jalaj Gupta shared that TI Clean Mobility (TICMPL) will expand across all key vehicle segments:

• Heavy Commercial Vehicles (HCVs): New models including tippers.
• Small Commercial Vehicles (SCVs): Plans to introduce electric ambulances and buses on the 3.5-tonne platform.
• Electric Tractors: A new 40–50 HP model is in the pipeline to complement the existing 27 HP variant.
• Electric Three-Wheelers: New variants with battery options above and below the current 10.6 kWh setup, and an entry into the e-rickshaw market.

Turnover Breakdown Target

To reach the USD 1 billion mark by FY29 or FY30, the company expects:

• 50% of revenue from HCVs
• 20% from SCVs
• 20% from three-wheelers
• 10% from tractors

In FY25, TICMPL posted a consolidated turnover of ₹650 crore.

Investment and Manufacturing Capacity

The company has completed a ₹3,000 crore fundraise, which is being invested in product development and manufacturing. TICMPL has established four manufacturing plants: three located around Chennai and one in Manesar, Haryana. Key manufacturing capacities include:

• HCVs: 6,000 units/year
• SCVs: 50,000 units/year
• Three-wheelers: 70,000 units/year (passenger + cargo)
• Electric tractors: 25,000 units/year

Dealer Network and Reach

TICMPL is currently active in 101 locations across India. The company has set a target to grow its footprint to 150 markets by FY26. The company has sold over 10,000 three-wheelers so far.

Also Read: TI Clean Mobility Plans New Electric Vehicle Launches

CMV360 Says

TI Clean Mobility’s plan to scale up across electric tractors, commercial vehicles, and last-mile delivery shows they’re thinking long-term. The ₹1 billion target is ambitious but not unrealistic, especially with the ₹3,000 crore investment and growing demand for clean transport. If they stay focused on product quality and network expansion, they’re well-positioned to become a major EV player in India.