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Ultraviolette Automotive is a Bengaluru based startup which is committed to developing top-of-the-line electric mobility solutions. Late last year, TVS Motors put his hands on 14.7 per cent stake of Ultraviolette in lieu of promoting EVs development. Once again, the TVS has invested a sum of INR 6 crore as a fundraising campaign, the Series A funding. This amount will be utilized for product engineering and R&D activities.
Currently, as the sources revealed, a high-performance electric bike fall in 200-250cc engine displacement is under pipeline. However, when will hit the Indian market is not officially announced yet. The Ultraviolette claims that this product will set a benchmark by replacing traditional ICE motorcycles with its progressive design philosophy and energy efficient technology.
With this alliance, the Chennai based bikemaker is expecting a lot and could use the similar platform for the development of its products in EV genre.
Read also: TVS iQube Hybrid Scooter Could Introduce in India by This Year End
Believing in Ultraviolette Automotive’s vision, K Gopaladeskikan, CFO, TVS said, “At TVS Motor Company, we are committed to creating offerings with best-in-class quality, cutting-edge technology and that delights the customer. As a responsible manufacturer, we see immense promise in Ultraviolette Automotive’s vision of bringing innovative and sustainable electric vehicles in India. Ultraviolette Automotive has made significant progress in their product engineering in a short span of time and we are confident that they will build a product that will pave the way for electric mobility in the country."
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