The capex will be spent on four EV product platforms including a passenger and cargo three-wheeler, a 55-tonne truck, a small commercial vehicle (SCV) and a tractor. “We’ve already launched the passenger three wheeler which is being manufactured in our Ambattur plant in Chennai which has a 90,000 units a year capacity,” he said. The company is currently selling about 1000 units a month. It has also launched the e-truck which is being made in its factory in Manesar. “The SCV will be out by the end of Q2 and the e-tractor by the beginning of next year,” he said. But beyond that, the company is “putting up a battery packing plant in Coimbatore which will also supply inhouse and go on stream by the end of this year,” said Murugappan. This is included in the INR 450 crore spend for the SCV project.
It is also looking at the e-mobility eco system. “CG Power is a subsidiary of TII and at some point they can make the motors for EV which is an option,” he said. It is “working with some partners that have invested in charging infrastructure and we’re currently monitoring to see how that goes,” he added. TICM is also looking at other products like e-cycles and e-rickshaws to add to its basic portfolio. “We’ve started making e-cycles and we’ve got good export enquiries from Europe and the US,” said Murugappan.
“We’re looking at e-cycles also for the domestic market,” he added. As for e-rickshaws, that product is definitely on the anvil. “That will be the next thing once we launch the e-three-wheeler cargo,” he said. As for the e-tractor, this too is being made in Tamil Nadu but the company is clear it will stay away from e-cars and e-two wheelers as those segments are “too crowded,” he said.
Disclaimer: The copyright of this article belongs to the original author. Reposting this article is solely for the purpose of information dissemination and does not constitute any investment advice. If there is any infringement, please contact us immediately. We will make corrections or deletions as necessary. Thank you.
