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Tube Investments to make electric 3-wheelers - The Hindu BusinessLine


To invest ₹200 crore; M A M Arunachalam elected Chairman
Murugappa Group company Tube Investments of India has announced its foray into the electric three-wheeler segment. The board approved the manufacturing and sale of three-wheeled electric vehicles with an outlay of up to ₹200 crore, the company said in a communiqué to stock exchanges. The company declined to disclose any further details.
The company’s board, at its meeting on Thursday, elected M A M Arunachalam (53), also known as Arun Murugappan (non-executive, non-Independent Director), as the Chairman with immediate effect.
Q3 profit rises
The board approved the results for the third quarter ended December 31, 2020, when the company reported a standalone profit after tax of ₹107 crore compared to ₹78 crore in the same period a year ago. Its profit before tax (before exceptional items) rose 53 per cent at ₹145 crore (₹95 crore). The total revenue from operations for the quarter was higher b ....

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