TVS Motor Company Invests Rs. 30 Crore In EV Startup Ultraviolette

TVS Motor Company, one of India's leading two-wheeler manufacturers, has announced an investment of Rs. 30 crore in Ultraviolette, which is an EV startup. The funding was announced at the latest round of funding (Series B). TVS had earlier invested Rs. 5 crore, for a 14.87 per cent stake in Ultraviolette in 2017, with the EV company starting its operations in 2015. Ultraviolette unveiled the pre-production version of the F77 electric motorcycle in November 2019 and claims it to be India's first high-performance electric motorcycle. Now, the company is gearing up towards the launch of F77. The company is looking at an early 2021 launch for the F77 and plans to expand its footprint in the country in a phase-wise manner.

Also Read: Ultraviolette F77 Electric Motorcycle Revealed

(Ultraviolette F77 electric motorcycle)

Narayan Subramaniam, Founder and CEO, Ultraviolette Automotive Pvt. Ltd. said, "We have seen significant advancements in the transportation and mobility industry globally, with an increased demand for personal mobility in recent times. We also see rapid growth in the Indian two-wheeler industry with a special focus on electric vehicles, and it is in this context that we set out to create the F77 - India's first high-performance motorcycle. We unveiled the motorcycle less than a year ago, and since then, we have achieved significant strides in making the F77 production-ready. We have conducted aggressive track and road tests on the motorcycle, adjusting and modifying the specifications to an all-new level of perfection and have built out a robust technology platform to support an enhanced user experience. TVS Motor Company has always shared our passion for building globally competitive and futuristic mobility solutions, and we are excited about our continued partnership with them."

Also Read: TVS Invests Rs. 5 Crore For 14.87 Per Cent Stake In EV Startup Ultraviolette

The Ultraviolette F77 is powered by an air-cooled brushless DC (BLDC) motor which has an output of 25 kW (33.5 bhp) and is good for a claimed top speed of 147 kmph, with acceleration times of 0 to 60 kmph in 2.9 seconds, 0 to 100 kmph in 7.5 seconds. The Ultraviolette F77 will come with three riding modes - Eco, Sport and Insane. Yes, you read that right! It comes with a massive torque rating of 450 Nm on the rear wheel. When launched, expect the prices to be at around Rs. 3 lakh or so.