City-based start-up to get investment from Ratan Tata
Pune: Chairman Emeritus of Tata Sons Ratan Tata is going to invest an undisclosed amount in the Pune-based electric vehicle start-up, Tork Motors, just before the commercial launch of its flagship product T6X. In the past, the company has raised funds from Bharat Forge and Bhavish Aggarwal (Founder of Ola cabs).
Tork Motors is a maker of indigenously developed electric vehicles. The ‘Made in India’ product is built as a culmination of years of extensive research and development. Speaking about the investment, Ratan Tata said, “In last few years, there has been a sea of changes in the attitude towards electric vehicles. This industry is changing rapidly and I place great value on the sound logic and the approach that the team at Tork Motors has taken.”
Founder and CEO of Tork Motors Kapil Shelke said, “An investment by Ratan Tata is an endorsement of the long-held belief by us that the Indian auto sector is going through a phase of huge growth and transformation. We are privileged to have him come on-board as an investor. Now with his support, guidance and mentorship, we are even more confident about carrying out our vision of promoting e-mobility in India.”
Powered by lithium-ion batteries, T6X, the electric motorcycle, is engineered to travel at a top speed of 100 kmph, and runs 100 km on a single charge. The battery can be charged up to 80 per cent in an hour. Tork Motors continues to further its state-of-the-art electric motorcycle technology with their signature TIROS (Tork Intuitive Response Operating System), that will power the T6X.