Date: July 12, 2023
In a move to capitalize on the growing electric vehicle (EV) market, the Murugappa Group has made a foray into the EV space. It has now set its sights on launching three electric tractors (e-tractors) by March 2024.
Recognizing the increasing demand for electric vehicles in various sectors, including agriculture, Murugappa Group aims to leverage its expertise in manufacturing and engineering to establish a strong presence in the EV market. The launch of e-tractors is expected to pave the way for the group’s entry into other segments of the electric mobility ecosystem.
The upcoming e-tractors by Murugappa Group are expected to feature advanced technology, including state-of-the-art battery systems and smart farming capabilities. The company intends to collaborate with leading technology partners to ensure its e-tractors offer cutting-edge features and performance to meet the evolving needs of farmers
The tone of the statement is as direct as it can be: “Our biggest focus is the electric vehicle segment where we foresee an immense opportunity for growth,” remarked Mukesh Ahuja, MD, Tube Investments of India (TII), in the annual report of the firm.
For various user segments, TII plans to release three different tractor versions with four-wheel drives. The tractor’s production facilities are already under construction at Apex Park in Chennai, Tamil Nadu, and the vehicles are expected to go on sale in the fiscal years 2023–2024. It might be recalled that earlier this year, the business acquired Celestial E-Mobility through its subsidiary TI Clean Mobility, giving it access to the e-tractor technology.
With its deep-rooted presence in the Indian market and a strong reputation for quality and reliability, Murugappa Group’s entry into the EV space is expected to disrupt the agricultural machinery sector. As the world witnesses a paradigm shift towards sustainable and environmentally friendly solutions, Murugappa Group’s aggressive entry into the electric vehicle market signals its commitment to driving the adoption of clean transportation options.
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