Ratan Tata to invest undisclosed amount in electric vehicle startup, Tork Motors

Electric vehicle startup Tork Motors on Monday said Ratan Tata has decided to invest an undisclosed amount in the company

Press Trust of India October 14, 2019 19:47:49 IST
Ratan Tata to invest undisclosed amount in electric vehicle startup, Tork Motors
  • Previously, the Pune-based company has raised funds from Bharat Forge and Bhavish Aggarwal (Founder of Ola cabs)

  • Tork Motors is gearing up to launch its flagship electric motorcycle in the next few months

  • An investment by Ratan Tata 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

New Delhi: Electric vehicle startup Tork Motors on Monday said Ratan Tata has decided to invest an undisclosed amount in the company.

Ratan Tata to invest undisclosed amount in electric vehicle startup Tork Motors

File photo of Ratan Tata. AFP

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 in the next few months.

"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.

Updated Date:

also read

Union Budget 2022-23: Why India needs Budget for greater common good amid pandemic
Business

Union Budget 2022-23: Why India needs Budget for greater common good amid pandemic

Budget 2022: The Union Budget 2022-23 should ensure empathetic policy support for the lives and livelihoods facing unprecedented challenges

Budget 2022: Centre may make new simplified personal IT regime more attractive for salaried
Business

Budget 2022: Centre may make new simplified personal IT regime more attractive for salaried

The budget session of Parliament is set to commence on 31 January and will conclude on 8 April, the first half of the budget session will run from 31 January to 11 February

Budget 2022: Banks seek 1-year extension of ECLGS for MSMEs, relaxed eligibility criteria for wider reach
Business

Budget 2022: Banks seek 1-year extension of ECLGS for MSMEs, relaxed eligibility criteria for wider reach

The central government introduced the Emergency Credit Line Guarantee Scheme (ECLGS) in May 2020, intending to provide financial assistance to the pandemic-hit MSME sector