New Delhi, Sept. 28 -- The Murugappa Group's electric vehicle division is betting greater localization and higher sales, as it chases a target of achieving $1 billion revenue and profitability by 2030.

The Chennai-based group is amping up all four EV divisions-passenger three-wheelers, small commercial vehicles, electric trucks and electric tractors-a top company executive at Montra Electric said. Montra is brand name for TI Clean Mobility Pvt. Ltd, a unit of publicly listed Murugappa company Tube Investments of India Ltd.

"We realized that we need to move towards the journey of self-dependence and own this thing," Jalaj Gupta, managing director, Montra said, on a day the company opened a battery pack plant in Haryana's Manesar with an ...