Core Insights - The Murugappa Group's electric vehicle division aims for $1 billion in revenue and profitability by 2030 [1][3] - The company is enhancing localization and sales across its four EV segments: passenger three-wheelers, small commercial vehicles, electric trucks, and electric tractors [1][4] Business Development - Montra Electric has opened a battery pack plant in Manesar, Haryana, with an annual capacity of 1.7 GWh, transitioning from importing entire battery packs to sourcing only battery cells from China [2][5] - Since its inception in 2022, Montra has sold over 10,000 three-wheelers and 350 electric trucks, with expectations for profitability in the truck and three-wheeler segments sooner than others [4][6] Financial Performance - TI Clean Mobility reported revenue of ₹550 crore and a loss of ₹1,116 crore in FY25, indicating significant investment in expanding the EV business [5][6] - The Murugappa Group has raised ₹3,000 crore from various investors to support its electric vehicle initiatives [5] Strategic Focus - The company is investing in research and development to create its own intellectual property, including microcontrollers for its electric trucks [8][9] - Battery cells for small commercial vehicles are being assembled at Jayem Automotives Pvt Ltd, with plans to supply for the three-wheeler business soon [10] Market Positioning - The Murugappa Group has rapidly expanded its presence in the electric vehicle market across various commercial segments within three years [6][7] - The management believes that entering all four EV segments simultaneously is a bold strategy compared to established players who are proceeding one step at a time [7]