TVS Motor Company makes fresh investment in Ultraviolette Automotive

Zoho Corporation has joined along with TVS Motor in the latest round of Series C funding, to support Ultraviolette's vision of developing high performance mobility solutions for India and global markets, the two wheeler maker said in a regulatory filing.

The company, which has been an early backer of Ultraviolette, has led the investment in this round, it added.

Ultraviolette, which is setting-up its manufacturing and assembling facility in Electronics City, Bengaluru, will utilise this investment towards the production and commercial launch of its high-performance electric motorcycle, the F77, and will roll out the first batch of motorcycles in the first half of 2022.

''EVs are a huge focus area for us and we have invested in this area for over a decade. TVS is committed to developing exciting and aspirational products and we have always believed that EV development has to be ground-up for us to make that quantum leap into the global EV revolution,'' TVS Motor Company Joint Managing Director Sudarshan Venu noted.

Ultraviolette brings these values to life in a unique way in the F77, and the company is excited to support this, he added.

''We are delighted that we chose to partner with them at an early stage, and I am confident that Ultraviolette's EV line-up will see rapid adoption across the country and the world,'' Venu stated.

This investment from TVS Motor Company and ZOHO Corp. is a validation of the company's endeavour to redefine the future of mobility,'' Ultraviolette Automotive Founder and CEO Narayan Subramaniam stated.