Tube Investments of India's Subsidiary, TI Clean Mobility, To Launch Electric Tractor in Q1 FY25

Tube Investments of India Ltd.'s subsidiary, TI Clean Mobility Pvt. Ltd. (TICMPL), has announced ambitious plans to launch its electric tractor in the first quarter of the fiscal year 2025. The company aims to achieve homologation for the electric tractor in the first quarter of the calendar year 2024, according to TII Executive Vice Chairman Vellayan Subbiah.

TICMPL has already begun preparations for the production of electric tractors, which are intended for the agriculture segment. The manufacturing facilities are being established in Chennai.

Subbiah, speaking during an earnings call, reaffirmed the company's commitment to obtaining homologation in the first quarter of the upcoming calendar year. Following homologation, the electric tractor is expected to be available for sale in the first fiscal quarter of 2025.

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The initial step in this process will be the submission of the first model, a 27-horsepower equivalent, for homologation between January and March of the coming year. Subsequently, production is scheduled to commence between April and June.

In addition to their electric tractor venture, TICMPL has recently launched the Montra electric super auto. However, they are currently facing challenges within their supply chain. TICMPL Managing Director K.K. Paul expressed confidence that these issues are being resolved through close collaboration with their vendors to address concerns related to the printed circuit boards (PCB).

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Paul further highlighted the company's improving performance, noting that month-on-month, they are witnessing an increase in volumes. They are on track to exceed the previous month's performance this month, and they are experiencing a cumulative doubling of volumes each month.

With an order book that spans 1.5 months, TICMPL is actively expanding its dealer network to the North to enhance their market presence in the upcoming quarters. By the end of the year, the company plans to have a dealer network comprising approximately 72 to 73 dealers, compared to the current 42, ensuring that they can meet growing demand and customer expectations.

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