Ratan Tata invests an undisclosed amount in electric vehicle start-up Tork Motors
Tork Motors, the Pune based electric vehicle start-up has received an undisclosed amount of funding from Mr. Ratan Tata, Chairman Emeritus of Tata Sons. This move comes weeks ahead of the commercial launch of their flagship offering Tok T6X. In the past, Tork Motors has received funding from Bharat Forge and Bhavish Aggarwal (Founder, Ola cabs).
Following Prime Minister Modi’s ‘Make in India’ philosophy, Tork Motors was one of the first companies to join the bandwagon. The start-up makes indigenously developed electric vehicles and has won laurels for the country in the prestigious Isle of Mann TT races. Ratan Tata is known for supporting committed and passionate ventures with sustainable business models along with unique, exciting concepts. He has earlier invested in Ola Electric, Paytm, CarDekho, Snapdeal and Lenskart.
Speaking about his recent investment in Tork Motors, Mr. Ratan Tata said, “In 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.”
Tork T6X is powered by a 6 kW brushless motor producing 27 Nm of torque. The bike has a claimed top speed of 100 kmph and a claimed range of 100 km. Also, the Tork T6X is driven by a 72 Ah lithium-ion battery enclosed in a cast aluminium casing which is IP67 rated. Besides that, the battery claims a shelf life ranging between 80,000 km to 1 lakh km!
Unveiled two years back, the Tork T6X was to carry a sticker price of INR 1.25 lakhs. However, considering inflation, we can expect this amount to get a slight bump.