TVS Motors has made a small investment of 5 Crore Indian Rupees in a company called Ultraviolette automotive based in Bangaluru which is developing electric motorcycles. India is bound to become an all-electric car market by 2030 and the sale of petrol and diesel vehicles in the country will be stopped entirely. To fast-track these series of changes, home grown manufacturers like Tata and Mahindra have already launched their first set of all-electric vehicles. However, the motorcycle market has seen no such development and TVS motors intend to be the first ones to do that.
What does TVS Motor’s investment in Ultraviolette Automotive mean?
According to the source, TVS Motors has invested 5 Crore Rupees to buy a 14.78% stake in the company which is developing electric motors for bikes. The company is already said to be working on two prototypes and a third one is on the way. The Bengaluru based company is also developing battery packs and energy infrastructure which will help speed up the electric vehicle adoption in the country.
The two-year-old company that TVS Motors invested in was set up in 2015 and has a thirteen-member team till now. While there is no news in the progress of the company’s products, we can sure hope a new TVS branded vehicle in the near future.
TVS Motors is also working on an electric scooter by itself
TVS Motors are working on an electric scooter all by themselves which is rumoured to launch around June 2018. The electric scooter will share underpinnings with the existing line up from the company and will most likely be an electric variant of an existing scooter. There also have been reports of Jupiter being launched in an electric avatar and we are not quite sure if the two products are different.
Ultraviolette Automotive might also help in speeding up the production process of the in-house electric scooter that TVS Motors is working on. The TVS Jupiter is already one of the most popular scooters in the country and the company will soon launch a bigger 125cc displacement variant in the Indian market.