TI Clean Mobility to Enter E-Rickshaw Market

The Murugappa Group’s electric mobility arm, TI Clean Mobility, is preparing to enter India’s fast-growing electric rickshaw market, expanding its footprint across commercial electric vehicle segments as cumulative investments in the business cross ₹3,000 crore. The group plans to continue deploying capital over the next two to three years as it scales operations and deepens its presence across multiple EV platforms.

Speaking on the sidelines of a dealership inauguration, Arun Murugappan, Executive Chairman of TI Clean Mobility and Tube Investments of India Limited, said the group remains firmly committed to electric mobility despite the sector still being in its early stages. He noted that the investments made so far reflect confidence in the long-term potential of electric commercial vehicles in India.

TI Clean Mobility currently operates across four electric platforms, covering small commercial vehicles, three-wheelers, tractors and heavy trucks. Manufacturing infrastructure for these platforms is already in place, with production facilities located in Chennai, Manesar and other locations. However, the company follows different market approaches across its portfolio. While tractors and heavy trucks are largely sold through B2B channels, small commercial vehicles and three-wheelers rely on a dealership-led retail model.

According to Murugappan, this mix of business models makes it difficult to define a single metric for retail touchpoints, as dealership expansion is primarily relevant for the B2C-facing segments.

In the electric three-wheeler space, Montra Electric’s e-3W business has been expanding rapidly. Jalaj Gupta, Managing Director of TI Clean Mobility, said the company has established 117 three-wheeler dealerships nationwide, including 30 across North India and six in the Delhi NCR region. He highlighted North India as one of the country’s largest three-wheeler markets, with states such as Uttar Pradesh and Bihar playing a critical role in future growth.

The company has now confirmed its entry into the electric rickshaw segment, with a market launch expected before the end of the current calendar year. Gupta and Deependra Sharma, CEO of e-3W Montra Electric, said the product has been under development for some time, but the company delayed its entry due to the unregulated and fragmented nature of the segment. The decision was taken after greater clarity began to emerge around norms and operating conditions.

The initial rollout will focus on North and East India, where e-rickshaws dominate last-mile passenger transport. States such as Uttar Pradesh, Bihar, Rajasthan and the Delhi NCR region together account for the majority of India’s e-rickshaw volumes. The company does not expect significant demand from southern states, where the segment has traditionally seen limited adoption.

Despite the Murugappa Group’s financial strength, executives acknowledged that access to financing remains a major hurdle across commercial EV categories. Gupta said lenders are still warming up to EV technology, though the company has partnered with multiple financial institutions. As regulations stabilise and vehicle performance data improves, TI Clean Mobility expects financing challenges to ease, supporting wider adoption of electric commercial vehicles.