TVS Motor Company on Monday announced TVS Electric Mobility Ltd. (TVSEM), a wholly owned subsidiary, which will focus on electric mobility business. The company said in a statement that the new unit is yet to start operations.
The two-wheeler maker also said that along with Zoho Corp, TVS Motor had invested in Bengaluru-based start-up Ultraviolette Automotive Pvt Ltd. Ltd., which is setting up its manufacturing and assembly facility at Electronics City, Bengaluru. The start-up will use the funds for the production and commercial introduction of its high-performance electric motorcycle, the F77, the first batch of which will start 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,” said Sudarshan Venu, JMD, TVS Motor.
He added, “TVS… has always believed that EV development has to be the cornerstone for us to make such a big leap in the global EV revolution.”
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