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TI Clean Mobility Pvt Ltd (TICMPL), the electric vehicle arm of Tube Investments of India under the Murugappa Group, is set to accelerate its electric three-wheeler business expansion. The company plans to introduce two new products in the coming months while expanding its dealer network in the northern and eastern regions, leveraging location-specific strategies to increase volumes and market share.
“Our journey in the passenger electric three-wheeler segment has been remarkable,” said K K Paul, Managing Director of TI Clean Mobility, in an interview with businessline. “In the southern region, we’ve captured about 30-33 percent of the market share in the electric passenger auto category. Nationally, our market share is around 7 percent, and in the markets where we’re present, we’ve achieved over 19 percent market penetration. This progress is especially impressive, given that we’ve only been in full-scale operations for the past eight to nine months.”
Over the past year, TICMPL has sold approximately 5,000 units of its e-passenger auto, Montra. Looking ahead, the company is preparing to launch new products in the cargo and e-rickshaw segments, set for release in the current and upcoming quarters. “These launches will further strengthen our portfolio and help us capture larger volumes,” Paul added. |
