Propel Industries plans to invest ₹300 crore in the next three years to increase production of electric vehicles for the mining sector.
V. Senthilkumar, its Managing Director, said the Coimbatore-based company has two electric vehicles (tipper models) in the market for the last two years and launched four more at Excon 2025.
“Of the total annual turnover of ₹1,750 crore, nearly ₹175 crore comes from electric vehicles. We expect the revenue from EV trucks to double this year with higher volume of vehicles sold. We sell about 230 vehicles a year and it is expected to grow to 250 or 300 this fiscal,” he added.
The company will invest ₹300 crore for the EV segment and another ₹300 crore for crushing and screening in the next three years, he said.
Published – December 11, 2025 12:18 am IST
