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News

TVS Motor Company acquires 14.78% stake in Ultraviolette Automotive

TVS Motor Company acquires 14.78% stake in Ultraviolette Automotive
Gregory
December 11, 2017

No, that is not a prop motorcycle from the set of the next installment of the Tron franchise. This is a prototype of an electric two-wheeler currently being tested by Bengaluru-based startup, Ultraviolette Automotive. The firm, which specializes in electric two-wheelers and energy infrastructure, was recently in the spotlight as part of a deal between said firm and TVS Motor Company.

The latter has acquired a 14.78% stake, worth around Rs 5 crore (US$776,000), in the startup as part of a “strategic investment.” TVS themselves are in the midst of developing an electric scooter, internally referred to as U218, which is slated to go on sale in the middle of 2018 or in about 6 to 9 months from now.

This partnership could now very much help speed up the development of TVS’s stillborn electric scooter. A little bit on Ultraviolette Automotive itself, the company was founded in December 2015 by Niraj Rajmohan (chief technical officer) and Narayan Subramaniam (chief executive officer). Since then, the firm has gone on to win the ‘Excellent Design Award’ at the International Bike Festival 2016 in Taipei, Taiwan.

The prototype that bagged them the award was a rather interesting hybrid bicycle-motorcycle dubbed the Twister. The Twister runs on a conventionally-powered engine but at the drop of a hat, could be doubled up as a bicycle.

As of now, Ultraviolette Automotive works with a team of 13 employees and has developed and tested a total of 3 prototypes. The firm has yet to launch an electric two-wheeler as of now. In the financial year to March 2017, Ultraviolette Automotive has posted a total revenue of Rs 3.21 lakh.

Related Itemsautomotiveelectric bikefeaturedindian motorcyclesmotorcyclemotorcyclesnewnew bikenew motorcyclestvstvs motor companyultravioletteultraviolette automotive
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News
December 11, 2017
Gregory

Although all started on the Cars. The passion is still for all segments of the motorcycle industry, including sportbikes, cruisers, big adventure bikes and the dirt.

Related Itemsautomotiveelectric bikefeaturedindian motorcyclesmotorcyclemotorcyclesnewnew bikenew motorcyclestvstvs motor companyultravioletteultraviolette automotive

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