Murugappa Group to enter EV business, launch three-wheelers by Sept
The Murugappa Group will launch an electric three-wheeler brand called Montra by September and invest Rs 200 crore in the segment, said a senior executive on Monday.
The electric vehicles (EV) business comes under TI Clean Mobility (TCM), a fully-owned subsidiary of Tube Investments of India (TII), the makers of bicycle brands like BSA and Hercules and part of the Murugappa Group.
