Tube lnvestments of India acquired 65.2% stake in heavy-duty EV manufacturing startup IPLTech

Murugappa Group engineering company Tube lnvestments of India acquired 65.2% stake in InfraPrime Logistics Technologies (IPLTech), a heavy-duty electric vehicle (EV) manufacturing startup, through its wholly owned subsidiary TI Clean Mobility.

IPLTech is a company that manufactures and sells electric heavy commercial vehicles. During its incorporation year, the company unveiled its first commercial EV, the Rhino 5536A, a 60-tonne truck used in the construction industry and powered by a 276 kWh battery. Through TI Clean Mobility, Tube Investments already has a stake in three-wheeler electric vehicles and electric tractors.