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flag Montra Electric launches 55-tonne electric truck in India, aiming for $1B revenue by 2030 amid low adoption.

flag Montra Electric, part of India’s Murugappa Group, is expanding into electric trucks with the launch of its 55-tonne Rhino 5538 EV, priced at ₹1.15 crore, featuring a 282 kWh battery, 380 HP, and up to 198 km range. flag The company, investing ₹3,000 crore in facilities across Haryana and Tamil Nadu, has opened a 1.7 GWh battery assembly plant to reduce reliance on imports and boost local production. flag With a current production capacity of 6,000 trucks annually, it aims to scale to 7,500 and target $1 billion in revenue by 2030. flag The company is pursuing PM E-DRIVE certification for subsidies and is focusing on battery swapping and in-house technology development. flag Despite low electric truck adoption in India—fewer than 270 sold through September 2025—Montra Electric sees long-term potential, especially for high-utilization fleets, and has sold over 5,000 units in 2025, mostly three-wheelers.

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