Chennai based TVS Motor Company has invested Rs 30 crore in Ultraviolette Automotive to expand its reach in electric vehicle segment. after the . The Bengalore based EV company has recently launched its high-performance motorcycle F77. This investment was received as part of its Series B round of funding.
“TVS Motor is excited to see the progress and developments made by the UV team and we are confident that these actions will go a long way towards establishing a greener future for India,” Manu Saxena, Vice President for future mobility and dealer transformation at TVS Motor said.
Narayan Subramaniam, Founder and CEO of Ultraviolette Automotive, said, “We also see rapid growth in the Indian two-wheeler industry with a special focus on the electric vehicles, and it is in this context that we set out to create the F77 — India’s first high-performance motorcycle,”.
The Electric bike, F77 is high-end technology and a high performance-oriented motorcycle built with principles used in aviation industry. It comes with remote diagnostics over-the-air upgrades, regenerative braking, multiple ride modes, bike tracking, ride diagnostics and other features.
TVS Motor Company announces the successful acquisition of Britain’s most iconic sporting motorcycle @Norton_Moto https://t.co/dBQsla0WKk pic.twitter.com/hv4CAUlRZE
— TVS Motor Company (@tvsmotorcompany) April 18, 2020
