TI Clean Mobility Pvt Ltd (TICMPL), a subsidiary of Tube Investments of India Ltd, sells electric heavy commercial vehicles and is in advanced stages of developing electric tractors and electric small commercial vehicles. The company is preparing to roll out its electric small commercial vehicle under its subsidiary Tivolt Electric Vehicles in the second quarter of this fiscal. TICMPL has planned a capex of more than ₹450 crore this fiscal, including ₹320 crore to establish a unit for electric small commercial vehicles in Chennai. It aims to build annual production capacities of 75,000 e-three-wheelers, 50,000 electric small commercial vehicles, 25,000 electric tractors and 4,500 electric heavy commercial vehicles. After the latest funding, the company says total capital raised will be ₹2,840 crore. Management emphasizes delivering EV solutions for commercial mobility and building an indigenous EV ecosystem leveraging local manufacturing and technology capabilities.

Total raised

$37M

Funding rounds

2

Latest round

Equity

Latest activity

Jun 2024