Murugappa Group is making an entry into the electric small commercial vehicle (e-SCV) business by investing Rs 30 billion in electric vehicles through its subunit. In the upcoming months,Tivolt Electric Vehicles, a subsidiary of the Murugappa Group?s TI Clean Mobility (TICMPL), will be launching their small commercial vehicle (e-SCV). Recently, Rs 5.8 billion was raised by TI Clean Mobility from private equity firm GEF Capital Partners LLC. After the closure of the proposed investment from GEF, the overall fundraising would aggregate to Rs 25.3 billion. According to the company, the vehicle's cutting-edge technology, unique design, potent performance, and sturdy build quality would cause a major shift in India's mid- and last-mile mobility sectors once it was introduced. The corporation also stated that the creation of the e-SCV will be the result of intensive study and stringent testing. TICMPL, a subsidiary of Tube Investments of India (TI), was established in February 2022 with the goal of providing clean mobility solutions. TICMPL is now positioned to provide comprehensive mobility solutions to businesses and logistics firms, meeting their demands across intercity, intracity, and last-mile applications with the addition of e-SCVs as its fourth EV platform. Vellayan Subbiah, Executive Vice Chairman of Tube Investments of India (TII), stated that India is positioned to take a leading role in the global adoption of electric vehicles, second only to China. He mentioned that TICMPL, the company he represents, is making significant progress in the electric vehicle sector, with a substantial commitment of three thousand crores. Subbiah highlighted that they are currently working on the development of four platforms, including the successful MHCV truck and EV three-wheeler that are already available on the market. He also expressed particular excitement about their upcoming Small Commercial Vehicle (SCV) platform. He emphasised that the SCV category is the largest segment within the commercial vehicle industry, and their entry into this arena is highly thrilling. He noted that this segment is poised to adopt electric vehicles rapidly due to supportive policies, government initiatives, and increasing adoption rates. Subbiah reaffirmed their dedication to becoming the leading player in this segment in India. He mentioned that the TIVOLT e-SCV, their upcoming product, is expected to be an outstanding offering and a definite success in the market.