TI Clean Mobility | Quick company profile

TI Clean Mobility Private Limited (TICMPL) is a wholly owned subsidiary of Tube Investments of India Pvt Ltd, effective 12th Feb 2022 and headquartered in Chennai, Tamil Nadu. Tube Investments of India (TII) is a listed company of the Murugappa Group. TlCMPL is working on multiple commercial EV categories, including L5M, Small Commercial and Heavy Commercial Vehicles and Tractors.

TICMPL ventured into last-mile mobility through its e-3W portfolio under the ‘Montra Electric’ brand. Its passenger 3W Super Auto, has been in the market for over a year.

• Montra Electric Super Auto recently delivered its 5000th vehicle (L5M Category). The vehicle offers a 160-kilometer range, a top speed of 55 kmph, and a Peak Torque of 60 Nm.

• The company sold 1,386 units of Super Auto in 2023. From Jan’24 to July’24, it sold ~3,224 units, securing 4th position among L5M EV OEMs.

• A city-wise sales analysis (Jan 2024 -Jul 2024) on the EVreporter Data Portal shows that the company sold 371 units in Bengaluru, 161 units in Noida, 146 units in Kanpur, 145 units in Lucknow, 106 units in Kozhikode, and 81 units in Kurnool.

Monthly Sales of Super Auto in 2024

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Acquisitions and investment Announcements

• TICMPL is engaged in the manufacturing of EVs (including 3Ws, Tractor, M&H CV and SCV). The company has acquired stakes in multiple outside entities to enter the medium and heavy commercial vehicle and tractor business.

• TICMPL has an 89.46% stake in IPLTech Electric. IPLTech manufactures 55T electric Trucks Rhino 5536.

• TICMPL acquired e-tractor company Cellestial E-Mobility in 2023. The subsidiary Cellestial E-Trac Private Limited merged with TICMPL w.e.f 14th December 2023.

• In FY24, TICMPL incorporated a subsidiary, TIVolt Electric Vehicles Pvt Ltd, to conduct e-SCV business. TICMPL has invested INR 160 Cr, and Mr Anand Jayachandran has invested INR 30 Cr in this subsidiary. The launch of their e-SCV is expected in the coming months.

• TICMPL acquired 50% ownership in Jayem Automotives with a primary investment of INR 30 Cr and a secondary investment of INR 176 Cr. Coimbatore-based Jayem is an automotive R&D company engaged in the design and manufacturing of a wide range of automotive components, systems, and prototypes.

Did you know?

TII has invested INR 250 Cr into TICMPL as Equity and INR 500 Cr as Compulsorily Convertible Preference Shares (CCPS). TICMPL also raised funds from Private Equity players for INR 2,250 Cr through CCPS.

This profile was first published in EVreporter Sep 2024 magazine.

Also read: TI Clean Mobility secures INR 580 crore investment for EV expansion