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TVS Motor Company invests additional Rs 30 crore into Ultraviolette Automotive: F77 launch next year

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TVS Motor Firm invests extra Rs 30 crore into Ultraviolette Automotive: F77 launch subsequent 12 months

Ultraviolette Automotive had unveiled the pre-production model of the F77 electrical sportsbike in November 2019 and is now gearing up in the direction of launching the bike available in the market. Extra particulars right here and what to anticipate!

By:FE BureauPrinted: September 4, 2020 10:25 AM

TVS Motor Company has additional invested Rs 30 crore in Ultraviolette Automotive (UAPL), the Bengaluru-based electrical bike maker, scaling up the holding to 29.48%. This funding is a part of its newest spherical (Collection B) of funding. Manu Saxena, vice-president, future mobility & seller transformation, TVS Motor Firm, mentioned, “Ultraviolette Automotive continues to show wonderful engineering and technological capabilities and innovativeness in creating high-performance electrical bike. TVS Motor is worked up to see the progress and developments made by the UV group and we’re assured that these actions will go a great distance in the direction of establishing a greener future for India.” TVS Motor had beforehand invested Rs 11 crore within the EV maker in two tranches of Rs 6 crore in 2018 and one other Rs 5 crore in 2017.

Narayan Subramaniam, founder and CEO, UAPL, mentioned, “We now have seen vital developments within the transportation and mobility business globally, with an elevated demand for private mobility in latest occasions. We additionally see fast progress within the Indian two-wheeler business with a particular deal with the electrical automobiles, and it’s on this context that we got down to create the F77 — India’s first high-performance bike. We unveiled the bike lower than a 12 months in the past,and since then, we have now achieved vital strides in making the F77 production-ready. We now have performed an aggressive monitor and highway assessments on the bike, adjusting and modifying the specs to an all-new stage of perfection.”

To speed up adoption of EVs in India, UAPL got down to construct India’s electrical bike — the F77 — three years in the past. The corporate unveiled the pre-production model of the F77 in November 2019 and is now gearing up in the direction of launching the bike available in the market. Niraj Rajmohan, founder and CTO, UAPL, mentioned : “The F77 was conceived with a single-minded function of making an identification for electrical mobility in India and TVS Motor Firm has been a strategic associate on this journey. For the reason that unveiling, we have now obtained an awesome response from the marketplace for the F77, and we have now spent the previous couple of months making important enhancements each on the design and expertise aspect to make the F77 extra environment friendly, responsive and highly effective.”

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