Bangalore: Ratan Tata, chairman emeritus of Tata Sons and an active angel investor, has backed electric vehicle startup Tork Motors. The Pune-based startup said Tata’s investment comes right before the launch of its flagship motorcycle product T6X.
The company did not disclose the size of investment by Tata, who has also invested in startups like Snapdeal, Ola, Ola Electric, Paytm and UrbanClap among others.
“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,” Tata said in a statement.
Flipkart co-founder Sachin Bansal has also invested in Ather Energy, which makes electric scooters. Tork Motors’ founder and CEO Kapil Shelke said the investment by Tata is an endorsement of the long-held belief by the startup that the Indian auto sector is going through a phase of huge growth and transformation.