Carraro India Limited has received an engineering services contract worth Rs 17.5 crore from TI Clean Mobility Private Ltd – Montra Electric for the development and industrialization of E-Transaxles for electric-powered agricultural tractors.
The Product Industrialization and Supply Agreement was executed on October 14, 2025. Under the agreement, Carraro India will conduct a detailed feasibility study and industrialize E-Transaxles for electric agricultural tractors. The project is scheduled for completion by March 2027, though timelines may be adjusted based on customer acceptance and approval.
The contract is with a domestic entity and does not involve any promoter or group company interests. It does not fall under related party transactions.
Dr. Balaji Gopalan, Managing Director of Carraro India Limited, said the contract represents a key development for the company as a technology product supplier in the Indian tractor industry. He stated that the E-Transaxle technology is expected to improve tractor efficiency and sustainability.
Gopalan added that following industrialization, the company plans to implement the E-Transaxle in its product range.
Carraro India Limited, established in 1997, is a Tier-I supplier that develops engineering products and solutions for original equipment manufacturers. The company manufactures axles, transmission systems, gears and related components.
The company is part of the Carraro Group, which produces transmission systems for agricultural and construction equipment and off-highway vehicles.
Carraro India operates two manufacturing plants in Pune with in-house research and development capabilities. The facilities include casting, machining, assembly, prototyping, testing, and painting technologies. The company maintains a supplier network of 220 domestic suppliers across 8 states and 58 international suppliers.