Companies

TVS Motor picks up additional stake in EV player Ultraviolette for ₹30 crore

Our Bureau Chennai | Updated on September 03, 2020 Published on September 03, 2020

Ultraviolette’s high-performance electric bike F77 gearing up for commercial launch

Two- and three-wheeler maker TVS Motor Company Ltd has made an additional investment of ₹30 crore in Ultraviolette Automotive Pvt Ltd (UAPL), a Bengaluru-based electric mobility player.

With the latest investment, TVS Motor’s holding in UAPL has increased to 29.48 per cent.

“TVS Motor Company has always shared our passion for building globally competitive and futuristic mobility solutions, and we are excited about our continued partnership with them,” said Narayan Subramaniam, founder and CEO, Ultraviolette Automotive.

Ultraviolette launched a programme to build India’s first high-performance electric motorcycle – the F77 — three years ago. It unveiled the pre-production version of the F77 in November 2019 and is now gearing up towards launching the motorcycle in the market, according to a statement.

The F77 is reported to be a high performance-oriented motorcycle built with principles used in the aviation industry — right from the advanced engineering simulations and multi-level safety systems to the design identity.

The statement said F77 is a smart and connected electric motorcycle that comes with remote diagnostics over-the-air (OTA) upgrades, regenerative braking, multiple ride modes, bike tracking, ride diagnostics and a whole lot of other features. It will first be rolled out next year with expanding national availability planned in phases.

The company said the F77 was conceived with a single-minded purpose of creating an identity for electric mobility in India, and TVS Motor Company has been a strategic partner in this journey.

“Ultraviolette Automotive continues to demonstrate excellent engineering and technological capabilities and innovativeness in developing a high-performance electric motorcycle. 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,” said Manu Saxena, Vice-President (Future Mobility & Dealer Transformation), TVS Motor Company.

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Published on September 03, 2020
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