TVS invests 6 crores in Ultraviolette Automotive

TVS Motor Company has invested Rs. 6 crores in Ultraviolette Automotive Pvt. Ltd. as part of a Series A funding.

Ultraviolette Automotive is a Bangalore-based electric mobility company that is currently developing an electric motorcycle that is claimed to outperform a 200-250 cc bike. The fresh investment will help the company expand its R&D team and facility.

Ultraviolette Automotive was founded in 2016. In December 2017, TVS bought 14.78% stake in the company for Rs. 5 crores.