TVS Motors recently decided to expand its hands with one of the electric vehicle startup, Ultraviolette based in Bangalore. To promote EV adoption in India, the company has recently received funding from TVS. The TVS has been one of the early backers of Ultraviolette and has now also joined hands with Zoho Corporation in the funding round.
By investing in Ultraviolette, TVS aims to support the companys vision of producing powerful sporty electric commuters for the Indian and international markets. This will not only promote electric mobility but will also offer job opportunities for those in need.
According to the companys Joint Managing Director, Sudarshan Venu said, EVs are a huge focus area for us and we have invested in this area for over a decade. We have always believed that EV development has to be ground-up for us to make that quantum leap into the global EV revolution.
According to the reports, Ultraviolette would soon start its manufacturing and assembling plant that is spread over 70,000 square feet. The facility planned is located in that particular area of Electronics City is planning to manufacture at least 15,000 electric bikes for the first year with a plan of increasing the annual production capacity to 120,000 units.
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With the plan of expanding its hands, the company will also open job vacancies for local unemployed people and with over 500 employees the company is in a plan to train those employees for manufacturing and assembling electric vehicles.
Ultraviolettes founder and CEO said, This investment from TVS Motor Company and Zoho Corp is a validation of the companys endeavour to redefine the future of mobility. He further added that, This is an important milestone for us in our journey towards building a superior EV experience for India and International markets. We chose this location given its strategic proximity to our R&D facility in Bengaluru as well as a strong supply-chain ecosystem in and around the region. We have received an overwhelming response for the F77 and this facility will help us cater to that demand over the next few years. Most importantly, the F77 has been designed and built indigenously and over 90% of the vehicle including the battery packs, will be manufactured using locally sourced components."
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The company claims the upcoming F77 to be one of the most powerful electric bikes to be launched in India. The bike comes with the latest advanced technology, enhanced performance and is built keeping in mind the principles used in the aviation industry. F77 can be called as a smart connected electric bike as it can go from 0-60 km/hr in just 2.9 seconds with a top speed of 140 km/hr.
The company claims that the bike can run 150 kms in a single charge and also comes equipped with remote diagnostics over-the-air (OTA) upgrades, multiple ride modes, regenerative braking systems, and several other features. The bike will be soon introduced in the market.
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