Montra Electric to Expand SCV Line-Up With New Sub-3.5T EV in 2026, Eyes Entry Into 3.5–7.5T LCV Segment

Montra Electric, the EV division of the Murugappa Group, plans to broaden its small commercial vehicle portfolio with the launch of a new sub-3.5-tonne electric truck next year. The company will subsequently introduce a light commercial vehicle in the 3.5–7.5-tonne range, CEO Saju Nair confirmed.

The company entered the SCV market earlier this year with the 3.5-tonne Eviator. Montra now intends to roll out around 10 additional variants based on the same platform, along with a lower-tonnage model that will sit below the 3.5-tonne threshold. The expansion will later include the higher-tonnage LCV category.

India’s SCV market has grown rapidly and is currently the largest segment within goods carriers. In FY25, overall goods carrier sales reached 9.56 lakh units, with the 2–3.5-tonne category leading at 3.10 lakh units. The segment is considered well-suited for electrification due to shorter delivery routes, moderate payload needs and high daily utilisation.

Montra Electric estimates that electric penetration in the SCV category stands at about 1% today. The company expects this to rise to 5% next year, with potential to reach 20% by 2030.

The company currently operates 20 retail touchpoints across India and plans to expand to 25 by the end of the financial year. This year’s priorities include testing additional use cases and onboarding large fleet customers. Beginning next year, the company aims to shift its focus toward volume growth.

Areas such as driver comfort, cargo-space design and energy efficiency remain key concerns in the SCV and LCV EV market—gaps the company plans to address through differentiated product offerings.

Montra is targeting $1 billion in revenue by 2030, with more than half expected to come from its medium and heavy commercial vehicle (M&HCV) portfolio.

Production for its SCV and LCV lines takes place at a dedicated facility in Ponneri, Tamil Nadu, which has an annual capacity of 50,000 units. Its M&HCV operations are handled by IPLTech Electric at the company’s Manesar plant in Haryana.

Montra recently expanded its presence in the heavy electric truck market with the launch of the Rhino 5538 EV 4×2 tractor-trailer.

Key Points

• New product launches: Sub-3.5T electric truck in 2026; 3.5–7.5T LCV EV to follow
• Current portfolio: 3.5-tonne Eviator SCV with 10 new variants planned
• Market context: SCVs form the largest share of India’s goods carrier segment
• EV penetration outlook: 1% today, projected 5% in 2026 and 20% by 2030
• Manufacturing: Ponneri (Tamil Nadu) for SCV/LCV; Manesar (Haryana) for M&HCV

Revenue target: $1 billion by 2030