TVS Motor has infused an additional Rs 30 crore in Ultraviolette Automotive, an electric mobility solution provider. This investment is part of the latest round (Series B) of funding by the company.
Ultraviolette recently unveiled India’s first high-performance electric motorcycle – the F77 and is now gearing up to launch the motorcycle in the market.
ALSO READ: TVS domestic two-wheeler sales drop slightly, larger fall in three-wheelers
Manu Saxena, vice president (Future Mobility & Dealer Transformation), TVS Motor Company, said, “Ultraviolette Automotive continues to demonstrate excellent engineering and technological capabilities and innovativeness in developing high-performance electric motorcycles. 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.”
Narayan Subramaniam, Founder and CEO, Ultraviolette Automotive Pvt Ltd, said, “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 enhanced user experience”.
The Ultraviolette F77 will first be rolled out next year with expanding national availability planned in phases.