Apart from being a shrewd businessman who took the Tata group to new heights, Ratan Tata is known as a prolific investor, and over the past few years he has been specially keen on finding out Indian startups with potential, and helping them grow through mentorship and funding. Along the same, Tata has decided to invest in Tork Motors, an electric vehicle startup.
Tork Motors is a Pune-based startup working to disrupt the nascent electrical vehicle industry in the country. The company has previously raised funding from Bharat Forge, and Ola founder Bhavish Aggarwal. The company is planning to launch an electric motorcycle in the next couple of months.
Speaking about the investment, Tata said:
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.
Commenting on the investment, Tork Motors Founder and CEO Kapil Shelke said
Mr Tata is one of the most prominent business leaders in the world. I am glad that his office representative visited the factory, understood the concept, evaluated the product, and had ridden the motorcycle post which Mr. Tata took an informed decision. An investment by him is an endorsement of the long-held belief by us that the Indian auto sector is going through a phase of huge growth and transformation. 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.
Tork Motors operates in an up and coming industry that already has some better-funded competitors like Ather. The company has been testing its motorcycles in racing but as it brings its product to the consumer market in the coming few months, Ratan Tata’s backing is certain to be of huge help.