Chairman emeritus of Tata Sons, Ratan Tata has decided to invest an undisclosed amount in the Pune-based electric two-wheeler manufacturing company, the Tork Motors. The announcement has been made prior to the commercial launch of the Tork T6X electric motorcycle, which will be brought to the market in the coming months.
Back in 2016, the brand also received funding from Bharat Forge and Bhavish Aggarwal, the founder of Ola Cabs. Tork Motors is a start-up company that has managed to claim the fame for its indigenously developed electric vehicles, with the brand having showcased its capabilities in racing.
The emeritus Chairman, Ratan Tata responded on being asked about his investment by saying: "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. Overall, I am very impressed and feel that this is the kind of spirit that should be present in every Indian entrepreneur."
The Founder and CEO of Tork Motors, Kapil Shelke expressed his joy about the investment and said: "We are privileged to have him come on-board as an investor. Now with his support, guidance and mentorship, we are even more confident about carrying out our vision of promoting e-mobility in India. Our business model is distinctively differentiated with an emphasis on an in-house development in technology and product advancement, with innovation at the core of our offerings. This investment gives us a great opportunity to gain more experience from the master himself."
The lithium-ion battery-powered Tork T6X electric bike is claimed to achieve a top speed of 100 km/h. It has a range of 100km on a single charge while it is capable of charging up to 80% in an hour and comes with TIROS (Tork Intuitive Response Operating System). After a delay of almost 4 years, the Tork T6X is expected to launch in the Indian market soon and it will rival companies like Revolt Motors, Okinawa, and Ather Energy. The T6X is expected to get an ex-showroom price tag of around INR 1.25 lakh.
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