 "TVS logo, TVS, TVS Motors")
Ultraviolette Automotive Pvt. Ltd., electric mobility solutions firm, said it has received an additional investment of Rs 60 million from TVS Motor Company. This investment is part of the Series A funding from TVS.
In December 2017, TVS acquired a 14.78 per cent stake for around Rs 50 million in the firm which develops electric mobility solutions.
Ultraviolette Automotive is currently building an electric motorcycle that is driven by progressive design and energy efficient technology, which will allow it to outperform traditional ICE motorcycles in the 200-250cc segment.
The additional investment will be deployed for continued product engineering and further
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