Tube Investments of India is eyeing to tap a huge opportunity for electric tractors in agriculture and e-trucks in the commercial vehicles as it eyes a larger presence in the electric vehicle segment. The company, part of the diversified conglomerate Murugappa Group, is currently engaged in the manufacturing of e-tractors at its facility in Apex Park in Chennai and for e-trucks in Manesar in Haryana.
The company forayed into the electric vehicle business with the acquisition of 65.2 per cent stake in IPLTech Electric to become an original equipment manufacturer (OEM) of zero-emission vehicles and participate in the entire productive end of EV spectrum. IPLTech Electric is a company manufacturing electric-medium and heavy-duty commercial vehicles.
Tube Investments of India was formed by merging TI Cycles of India and Tube Products of India. The company is in to the business of manufacturing metal products.
