TVS announces to invest Rs 300 million in collaboration with electric startup company
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On September 7, 2020
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At 11:19 am
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Indian motorcycle maker TVS has announced an investment of Rs 300 million in collaboration with an electric startup company.
The company has announced the investment in collaboration with Ultraviolet Automotive. The company had already started cooperation with Ultraviolet. TVS had invested Rs 50 million in Ultraviolet in 2017 alone.
Ultraviolet Company is a startup company established in 2015 to manufacture and research electric vehicles. The company launched its first product in November 2019. Ultraviolet was tested under the name ‘F77’, a prototype of India’s first high-performance electric motorcycle. Now it is said that it is preparing to launch the electric motorcycle in the market. The company will start selling it from the beginning of 2021.
N Subramaniam, founder and CEO of Ultraviolet Automotive Company, said it was a good time to bring electric vehicles to market. ‘The demand for electric motorcycles is increasing in the Indian market. In such a situation, we are preparing to launch high performance electric motorcycles in the market, ”he said. The Ultraviolet F77 has an air-cooled brushless DC motor. This motor generates 33 bh of power. Its top speed is 147 kilometers per hour. It can reach speeds of 0-60 in 2.9 seconds, and 0.100 plus 7.5.
Its value is estimated at 300,000 Indian rupees.