EV companies' mindset should be of a startup: TI Clean Mobility MD

Gupta spoke about the company's growth roadmap, export plans, and upcoming launches

The Chennai-based Murugappa Group is aggressively making its mark in electric vehicles (EVs) by investing around ₹3,000 crore through TI Clean Mobility. Jalaj Gupta, Managing Director of TI Clean Mobility, in an interview with Shine Jacob in Chennai, spoke about the company's growth roadmap, export plans, and upcoming launches. Edited excerpts:

 

You recently launched the e-SCV Eviator and Super Cargo (three-wheeler). What's your future roadmap?

 

Montra Electric is part of the Murugappa Group. The brand name is Montra, and the company name is TI Clean Mobility. Murugappa Group is 125 years old, so we have a rich heritage. The group decided about two to three years ago that we wanted to get into the electric mobility space. From day one, the promoters were very clear that we would focus only on EVs. Montra Electric has a presence in four businesses: three-wheeler last-mile, small commercial, heavy commercial, and e-tractors. Two businesses are fully operational — the truck business with the brand Rhino (check) and the Montra three-wheeler passenger or L5M.

 

Eviator and the cargo three-wheeler will be available for sale starting in April this year. Whatever we have displayed at Bharat Mobility will come up in the next year. Commercial sales of tractors will begin in the first quarter of the next financial year. We will leverage the group's strength. We are category creators. 

You had a couple of acquisitions. Are you looking at more inorganic growth opportunities?

 

We are looking at the entire ecosystem. The EV journey cannot be a solo effort. We need collaborations and tie-ups. We are open to joining hands with anybody to promote electrification in the country. Be it improving the ecosystem of electric vehicles or bringing in new, innovative solutions to the customer, the EV mindset should be that of a startup. We have a legacy of 125 years, but our mindset should be startup-like. That is the message I always give to my team.

 

We are very actively looking at any opportunity that exists, both in organic and inorganic modes. If the opportunity is good and exciting, we will go ahead. For the overall company, we are looking at an investment of ₹3,000 crore across all four businesses that we are in.

 

How are you planning to take forward the Murugappa legacy?

  The brand names Murugappa and Montra are what we are heavily betting on across the country. Murugappa Group is present in more than 20 countries worldwide. In the future, once we are established, exports will be one area we are betting big on. We are looking at three-wheeler exports to start with (L5M) in some West Asian and African countries. We will start looking at these markets in the next six to eight months.

 

Currently, feasibility studies of these markets are underway. The next step will be to find a partner and seed the vehicle. Across all these vehicles, our total capacity is 150,000 vehicles per annum. We have three plants in Chennai and one in Manesar.

 

Much ahead of time, in 2008, your group launched EV two-wheelers with Tamannaah as the brand ambassador. Are you again looking at two-wheelers or four-wheelers?

 

At this point, we have enough on our plate to expand in the four segments we are entering. We already have a product plan in place for these segments. Our focus will be to go deeper into the areas in which we are present. We have been testing the waters. The strategy will be to go deeper into the segments over the next two to three years, and if a good opportunity arises, we may look at others.

 

How are you looking at improving your market share for L5M passenger vehicles?

 

In this category, we have over 20 per cent market share in South India for L5M. We started in the South, but the biggest markets for this segment are in the North and East — including Uttar Pradesh, the National Capital Region, Bihar, Assam, and Tripura, among others.

 

So, we have plans to scale up our dealership network. From around 80 dealers in January, our plan is to reach over 100 by the end of this financial year. With the L5N launch and upcoming releases, expansion will also be timed accordingly.

 

For cargo, we are in touch with exclusive EV logistics providers, fast-moving consumer goods (FMCG) companies, and e-commerce players.