Ratan Tata would be investing in Pune-based e-bike startup Tork Motors. Tork Motors is an electric vehicle and charging infrastructure manufacturing venture. The company was founded by Kapil Shelke in 2010. The company is due for the commercial launch of T6X, its flagship offering. With this launch, Tork T6X will be India’s first electric performance motorcycle.
Earlier, Tork Motors has received funds from other marquee investors like Bharat Forge and Bhavish Aggarwal of Ola. Bharat Forge, a leading auto component manufacturer, had invested ₹34 crore and has an equity stake of about 49% in the company. The exact quantum of investment by Ratan Tata has not been disclosed. It is learnt that for some time Tork Motors had been on look out for additional funding to the tune of Rs 240 crore.
On the investment by Ratan Tata – Kapil Shelke, Founder and CEO of Tork Motors mentioned in a statement to media – “I am glad that his office representatives visited the factory, understood the concept, evaluated the product, and had ridden the motorcycle post which Mr Tata took an informed decision.
The company’s electric performance bike – T6X will be powered by a 3.5kWh Li-Ion battery that can run 100kms on a full charge. For recharging the batteries, the company has developed a fast charger that can charge up to 80% in one hour. The battery will be dust and waterproof.
Recently, the company installed the first unit of its EV fast-charging station in Pune, Maharashtra. The new EV charging station is, according to the company, the first of many that the company plans to install.
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