TVS buys 15% stake in electric two-wheeler startup Ultraviolette
Published on Dec. 13, 2017
Mumbai: Two-wheeler maker TVS Motor Co. Ltd Thursday said it has bought a 14.78% stake in Ultraviolette Automotive Pvt. Ltd, a Bengaluru-based startup working on electric two-wheelers and energy infrastructure.
The transaction was valued at a little over Rs5 crore, TVS said in a stock exchange filing on Thursday.
According to the exchange filing, the startup had Rs3.21 lakh revenue in 2016-17. The company, which has tested three prototypes, has not launched an electric two-wheeler yet.
Bengaluru-based...">
Mumbai: Two-wheeler maker TVS Motor Co. Ltd Thursday said it has bought a 14.78% stake in Ultraviolette Automotive Pvt. Ltd, a Bengaluru-based startup working on electric two-wheelers and energy infrastructure.
The transaction was valued at a little over Rs5 crore, TVS said in a stock exchange filing on Thursday.
According to the exchange filing, the startup had Rs3.21 lakh revenue in 2016-17. The company, which has tested three prototypes, has not launched an electric two-wheeler yet.
Bengaluru-based...