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Bangalore-based electric vehicle manufacturer, Ultraviolette Automotive announced that it has received additional funding from TVS Motor Company. The EV maker has received a sum of Rs 30 crore as part of its latest round (Series B) of funding from TVS.
Ultraviolette Automotive has launched the F77 performance electric motorcycle last year. Prices for the F77 start at Rs 3.0 lakh. The electric powertrain produces a total power output of 33.5bhp at 2,250rpm and a peak torque of 90Nm.
Manu Saxena, Vice President (Future Mobility & Dealer Transformation), TVS Motor Company, said, "Ultraviolette Automotive continues to demonstrate excellent engineering and technological capabilities and innovativeness in developing high-performance electric motorcycles.
TVS Motor is excited to see the progress and developments made by the UV team and we are confident that these actions will go a long way towards establishing a greener future for India."
Narayan Subramaniam, Founder and CEO, Ultraviolette Automotive Pvt. Ltd. said, "We have seen significant advancements in the transportation and mobility industry globally, with an increased demand for personal mobility in recent times.
We also see rapid growth in the Indian two-wheeler industry with a special focus on electric vehicles, and it is in this context that we set out to create the F77 - India's first high-performance motorcycle."
He further added, "We unveiled the motorcycle less than a year ago, and since then, we have achieved significant strides in making the F77 production-ready. We have conducted aggressive track and road tests on the motorcycle, adjusting and modifying the specifications to an all-new level of perfection and have built out a robust technology platform to support enhanced user experience.
TVS Motor Company has always shared our passion for building globally competitive and futuristic mobility solutions, and we are excited about our continued partnership with them."
The company claims the F77 could accelerating from 0 to 100km/h in 2.9 seconds and continue to reach a top speed of 147km/h. The electric motorcycle will feature a with a claimed riding range of up to 150km on a single charge from its 3 battery packs.
Niraj Rajmohan, Founder and CTO, Ultraviolette Automotive Pvt. Ltd., stated, "The F77 was conceived with a single-minded purpose of creating an identity for electric mobility in India, and TVS Motor Company has been a strategic partner in this journey.
Since the unveiling, we have received an overwhelming response from the market for the F77, and we have spent the last few months making critical enhancements both on the design and technology side to make the F77 more efficient, responsive and powerful."
Mr Rajmohan further added, "The F77 is high-end technology, and a high performance-oriented motorcycle built with principles used in the aviation industry - right from the advanced engineering simulations, multi-level safety systems to the design identity of the motorcycle.
The F77 is a smart and connected electric motorcycle that comes with remote diagnostics over-the-air (OTA) upgrades, regenerative braking, multiple ride modes, bike tracking, ride diagnostics and a whole lot of other features. The Ultraviolette F77 will first be rolled out next year with expanding national availability planned in phases."
Thoughts About The Ultraviolette Automotive Receiving Additional Series B Funding From TVS Motor Company
Ultraviolette has received fresh funding which will fast-track the production of F77 for the company. The motorcycle has created a buzz with its specs and performance figures in the Indian market and will be placed in the premium electric two-wheeler segment in the country.