Tube Investments to launch electric 3-wheeler passenger vehicles by March

Murugappa group company Tube Investments of India (TII), the makers of iconic bicycle brands like BSA and Hercules, will foray into the e-mobility space by launching electric three-wheeler passenger vehicles by March 2022, a top company executive told Business Standard.
 
Following this, TII will gradually look into the cargo segment, scooters and e-rickshaws. TII, which operates in three business divisions, including engineering, bicycles and metal-formed products, has a market share of around 25 per cent in India’s bicycle market.
 
The company has already started work on a separate unit for electric vehicles (EVs) at its Ambattur facility. This