Electric vehicle startup Tork Motors on Monday said Ratan Tata has decided to invest an undisclosed amount in the company. Previously, the Pune-based company has raised funds from Bharat Forge and Bhavish Aggarwal (Founder of Ola cabs).
"In the 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," Tata Sons Chairman Emeritus Ratan Tata said in a statement.
Tork Motors is gearing up to launch its flagship electric motorcycle T6X in the next few months.
Powered by lithium ion batteries, T6X, the electric motorcycle, is engineered to travel at a top speed of 100 kmph, and runs 100 km on a single charge. The battery can be charged up-to 80 percent in an hour.
TIROS (Tork Intuitive Response Operating System), an electric motorcycle technology will power the T6X.
"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," Tork Motors Founder and CEO Kapil Shelke said.
First Published: IST