TVS Motor Firm invests in Sequence B funding of Ultraviolette Automotive
Following the profitable nationwide unveiling of its highperformance motorbike – the F77, Ultraviolette Automotive Pvt. Ltd., an innovator in sustainable mobility, as we speak introduced that it had acquired a further funding of INR 30 Crore from TVS Motor Firm, a reputed producer of two-wheelers and threewheelers on the planet. This funding is a part of its newest spherical (Sequence B) of funding.
To speed up the adoption of electrical autos in India, Ultraviolette Automotive set-out to construct India’s first high-performance electrical motorbike – the F77, three years in the past. The corporate unveiled the pre-production model of the F77 in November 2019, setting new benchmarks within the Indian EV trade, and is now gearing up in direction of launching the motorbike available in the market.
Commenting on the extra funding, Manu Saxena, Vice President (Future Mobility & Vendor Transformation), TVS Motor Firm mentioned, “Ultraviolette Automotive continues to exhibit glorious engineering and technological capabilities and innovativeness in creating high-performance electrical motorbike. TVS Motor is worked up to see the progress and developments made by the UV staff and we’re assured that these actions will go a great distance in direction of establishing a greener future for India.”
Narayan Subramaniam, Founder and CEO, Ultraviolette Automotive Pvt. Ltd. mentioned, “We have now seen vital developments within the transportation and mobility trade globally, with an elevated demand for private mobility in current instances. We additionally see speedy development within the Indian two-wheeler trade with a particular give attention to the electrical autos, and it’s on this context that we got down to create the F77 – India’s first high-performance motorbike. We unveiled the motorbike lower than a 12 months in the past, and since then, we have now achieved vital strides in making the F77 production-ready. We have now performed aggressive observe and highway assessments on the motorbike, adjusting and modifying the specs to an all-new stage of perfection and have constructed out a sturdy know-how platform to assist enhanced person expertise. TVS Motor Firm has at all times shared our ardour for constructing globally aggressive and futuristic mobility options, and we’re enthusiastic about our continued partnership with them.”
Niraj Rajmohan, Founder and CTO, Ultraviolette Automotive Pvt. Ltd., said, “The F77 was conceived with a single-minded function of making an id for electrical mobility in India, and TVS Motor Firm has been a strategic companion on this journey. Because the unveiling, we have now acquired 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 know-how facet to make the F77 extra environment friendly, responsive and highly effective.
The F77 is high-end know-how, and a excessive performance-oriented motorbike constructed with ideas used within the aviation trade – proper from the superior engineering simulations, multi-level security methods to the design id of the motorbike. The F77 is a brilliant and related electrical motorbike that comes with distant diagnostics over-the-air (OTA) upgrades, regenerative braking, a number of experience modes, bike monitoring, experience diagnostics and an entire lot of different options.
The Ultraviolette F77 will first be rolled out subsequent 12 months with increasing nationwide availability deliberate in phases.”
Shares of TVS MOTOR COMPANY LTD. was final buying and selling in BSE at Rs.437.5 as in comparison with the earlier shut of Rs. 440.6. The overall variety of shares traded through the day was 240140 in over 3608 trades.
The inventory hit an intraday excessive of Rs. 440 and intraday low of 427. The online turnover through the day was Rs. 103928939.