Ratan Tata, Chairman Emeritus of Tata Sons, has agreed to invest an undisclosed amount in Pune-based electric vehicle start-up Tork Motors. Tork Motors is going to unveil its flagship electric bike, the Tok T6X in the coming months. It is an entirely indigenously developed electric vehicle and will be one of the first ones available in India when it comes later this year.
In the past, Kapil Shelke-led Tork Motors raised funds from Bharat Forge and Bhavish Aggarwal, founder, Ola cabs. Bharat Forge, one of the leading auto component manufacturer, had invested Rs 34 crore and holds an equity stake of almost 49 percent.
According to Tork Motors, collaboration with Bharat Forge has assisted the startup with engineering, plant designing manufacturing, and supply chain capabilities.
Powered b lithium-ion battery, Tork T6X, the electric motorcycle, is engineered to travel at a top speed of 100 kmph, and runs 100 km on a single charge. The battery can be charged up to 80 percent in an hour. Propriety charging solutions will also be set up across Pune at the time of the launch.
Tork Motors suggests that the startup has decided to go ahead with a 3.5kWh battery on the T6X wherein the battery unit will be dust and waterproof.
Tork is aiming at retails of 5,000 units in the first year starting off from Pune city. In its second year of the sale, they plan to expand to Bangalore and ramp up their annual retails to up to 20,000 units. And said a source who did not wish to be named.
He added, that the T6X is pegged to cost around Rs 1.5 lakh. Once it is launched and will compete with premium 125cc-200cc motorcycles.
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