Pune-based Electric vehicle start-up Tork Motors on Monday said Ratan Tata has decided to invest an undisclosed amount in the company.
"In the last few years, there has been a sea change 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.
The latest decision by rattan Tata to invest in Tork electric motorcycles came barely months after he announced his decision to invest in Ola Electric Mobility as part of its Series A round of funding in May this year.
Tata's investments in electric vehicles is a visible endorsement of electric mobility ecosystem.
"The electric vehicle ecosystem is evolving dramatically every day, and I believe Ola Electric will play a key role in its growth and development,” Ratan Tata had said then.
Ola Electric is currently running several pilots involving charging solutions, battery swapping stations, and deploying vehicles across two, three and four-wheeler segments.