Ratan Tata to invest in Tork Motors

Electric vehicle startup Tork Motors on Monday said Ratan Tata has decided to invest an undisclosed amount in the company. Previously, the Pune-based company has raised funds from Bharat Forge and Bhavish Aggarwal (Founder of Ola cabs).

"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," Tata Sons Chairman Emeritus Ratan Tata said in a statement. Tork Motors is gearing up to launch its flagship electric motorcycle in the next few months.

"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," Tork Motors Founder and CEO Kapil Shelke said.