TVS invests Rs 30 crore in Ultraviolette
TVS MOTOR Company extended its trust on the Indian EV startup Ultraviolette with a fresh funding of Rs 30 crore. A part of Series B round of funding for the startup, this is the second investment made by TVS in Ultraviolette. TVS had earlier invested Rs 5 crore in Ultraviolette in exchange for a 14.87 per cent stake in the company back in 2017. Ultraviolette is expected to come up with the country’s first highperformance electric motorcycle.
Called the F77, a pre-production version of the electric motorcycle was unveiled by the firm in November 2019. Since then, the bike has been spotted at various stages of testing time and again.The company is looking at an early 2021 launch for the F77 and plans to expand its footprint in the country in a phase-wise manner.
The F77 by Ultraviolette is poised to be the first high-performance electric bike to be available in the country’s market. Powered by an air-cooled brushless DC (BLDC) motor, the bike promises a power output of 25kW for a claimed top speed of 147kmph. The acceleration is clocked to be 0 to 60kmph in 2.9 seconds and 0 to 100kmph in 7.5 seconds, thanks to the bike’s 450Nm of torque. The F77 is expected to be priced at around Rs 3 lakh once launched.