TVS Motor Company (1) has invested funding of 30 crore INR on India’s EV startup, Ultraviolette (2). The second time TVS has invested the Ultraviolette as a part of the Series B funding round.
In 2017, TVS invested five crore INR in the startup for a 14.87% stake in the company. Ultraviolette is likely to roll out India’s first high-performance electric motorcycle.
In November 2019, the company unveiled its pre-production version called F77. Since then, many reports of bikes spotted at various stages of testing from time to time. The firm is now all geared up to launch in early 2021. With the latest funding round, the company is planning to expand all across India in phases.
Ultraviolette to Launch High-Performance Electric Bike, F77
Narayan Subramaniam, Founder and CEO of Ultraviolette Automotive Pvt. Ltd., stated that they unveiled the electric bike a year ago. Since then, the firm has attained critical strides to make the F77 ready for production.
He added that TVS Motor Company has always shared its passion for making competitive and futuristic mobility solutions worldwide. The Ultraviolette team is very excited about the partnership with TVS.
The Ultraviolette’s F77 is claiming to be the first high-performance electric motorcycle in India. The bike is powered by a DC (BLDC) motor, an air-cooled, and brushless. It promises a power output of 33.5 bhp or 25 kW. The claimed top speed it can achieve is 147 kmph. The bike’s acceleration time is 0 to 60 kmph in 2.9 seconds and 7.5 seconds for 0 to 100 kmph. The acceleration is all due to its 450 Nm torque.
The F77 by Untraviolette will come in three different riding modes, Eco, Sport, and Insane. Reportedly, they will approximately cover 130 to 150 km range on a single charge. As per the reports, the F77 may cost around 3 lakh INR with all these features upon launch.
Author: Rucha Joshi
Source : https://timesnext.com/ultraviolette-bags-30-crore-inr-from-tvs/
Date : 2020-09-05T09:28:36.000Z