Ratan Tata, Chairman Emeritus of Tata Sons will invest an undisclosed amount in Pune-based electric vehicle start-up Tork Motors, just before the commercial launch of its flagship product T6X. In 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. Powered by lithium ion batteries, T6X, the electric motorcycle, can attain a top speed of 100 kmph, and runs 100 km on a single charge. The battery can be charged up-to 80% 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), the intelligence that will power the T6X. Apart from analysis and compilation of data for every ride, power management, real time power consumption and range forecasts, TIROS also likes to learn how you ride.
Speaking about the investment, Ratan Tata, an avid thought leader In the EV space, 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 good value on the sound logic and the approach that the team at Tork Motors has taken. Overall, I am very impressed and feel that this is the kind of spirit that should be present in every Indian entrepreneur.”
Speaking on the investment Kapil Shelke, Founder and CEO of Tork Motors said, “Mr Tata is one of the most prominent business leaders in the world. I am glad that his office representative visited the factory, understood the concept, evaluated the product, and had ridden the motorcycle post which Mr. Tata took an informed decision. An investment by him 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. Our business model is distinctively differentiated with an emphasis on an in-house development in technology and product advancement, with innovation at the core of our offerings. This investment gives us a great opportunity to gain more experience from the master himself.