Archive · 28 Sep 2025
TI Clean Mobility Aims for Top EV Truck Spot, $1 Billion Revenue
TI Clean Mobility, part of the Murugappa Group, wants to be a big name in electric trucks.
They are aiming to be in the top three companies in the electric truck market and earn $1 billion by 2030.
To do this, they are launching new trucks, like the Rhino 5538, and expanding into battery swapping.
They have opened a new battery assembly plant.
Although the government is helping with subsidies, selling electric trucks has been slow due to high costs and charging limitations.
The company is optimistic and is planning to offer battery-as-a-service.
They are focusing on cost parity which occurs when used for more than 8,000 km/month, by utilizing battery swapping in sectors like mining and ports to overcome challenges.
TI Clean Mobility targets becoming a top 3 electric medium and heavy commercial vehicle player.
The company aims to achieve $1 billion in revenue by 2030.
A new electric truck, the Rhino 5538 4×2, has been launched.
A fully automated battery assembly plant was inaugurated in Manesar.
Electric truck sales face challenges including high costs and limited infrastructure.
- Who
- TI Clean Mobility
- What
- Aims to become a top 3 EV truck player and achieve $1B revenue by 2030
- When
- Announced in recent report; target by 2030
- Where
- Targets expansion in the HCV (Heavy Commercial Vehicle) segment across India
- Why
- To become a leading player in the EV market, achieve revenue goals and increase market share.
Industry Challenges
Company Strategy
Market Adoption
Industry Challenges
Electric truck sales remain slow due to high upfront costs, infrastructure limitations, and range anxiety. The government subsidy program has not been utilized.
Company Strategy
TI Clean Mobility is focused on expansion in battery swapping, launching new trucks, and different business models to increase market adoption. Cost parity can be achieved with high-usage models.
- Company
- TI Clean Mobility
- Revenue Target
- $1 billion by 2030
- FY25 Revenue
- ₹660 crore
- New Launch
- Rhino 5538 4×2 electric tractor-trailer
- Truck Price
- ₹1.15 crore (ex-factory)
- Production Capacity
- 6,000 trucks at Manesar facility
- Electric Trucks Sold (9 Months 2025)
- <270 (market)
