TVS Motor invests Rs30cr in Ultraviolette Automotive in Series B funding

Led by the success of high-performance motorcycle – the F77, TVS Motor has now invested Rs30cr in Ultraviolette Automotive. This investment is part of its latest round (Series B) of funding.

For boosting the adoption of electric vehicles in India, Ultraviolette launched F77 three years ago. The company further unveiled the pre-production version of the F77 in November 2019, setting new benchmarks in the Indian EV industry, and is now gearing up towards launching the motorcycle in the market.

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 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 the electric vehicles, and it is in this context that we set out to create the F77 – India’s first high-performance motorcycle.”

Subramaniam further said, “The F77 is high-end technology, and a high performance-oriented motorcycle built with principles used in the aviation industry – right from the advanced engineering simulations, multi-level safety systems to the design identity of the motorcycle. The F77 is a smart and connected electric motorcycle that comes with remote diagnostics over-the-air (OTA) upgrades, regenerative braking, multiple ride modes, bike track, ride diagnostics and a whole lot of other features.”

“The Ultraviolette F77 will first be rolled out next year with expanding national availability planned in phases,” Subramaniam adds.

At around 1.30 pm, TVS Motor stock was trading at Rs438.60 per piece broadly flat compared to the previous closing on Sensex. The stock, however, has touched an intraday high and low of Rs445.40 per piece and Rs435 per piece respectively. 

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