Exor puts on his helmet and mounts the powerful ones electric motorcycles by Ultraviolette Automotive. Indeed, the holding company of the Agnelli-Elkann family has invested 10 million dollars in the Indian startup that is working on the development of battery-powered mopeds.
According to rumors, Exor would thus rise to 3,5% of the capital of Ultraviolette.
Ultraviolet: electric motorcycles accessible to all
Ultraviolette intends to develop high-performance electric motorcycles, but above all accessible to all wallets. The first model developed by the company, the F77, promises up to 180 kilometers of autonomy, acceleration from 0 to 100 in 7,5 seconds and a top speed of 147 km/h. The price? Around 4 thousand dollars, a figure that seems to have already attracted the interest of many two-wheel enthusiasts. The company has announced that it has already received 65 pre-orders from India, Europe and the USA. The first deliveries will be made by the end of 2022.
“Exor Capital has a strong interest in innovation and sustainability. We believe that Ultraviolet is an opportunity which covers both,” explained Nikhil Srinivasan, manager of the investment arm of the safe led by John Elkann. In India, Exor has already invested in the used car trading platform Cars24 and in the TVS group.
Thanks to Exor's funds, Ultraviolette will be able to increase production and finance its expansion on foreign markets.
With Exor, said the co-founder and CEO of Ultraviolette, Narayan Subramaniam, “We now have a diverse group of leading Indian and international institutional investors supporting us on our journey and vision to shape a new era of mobility not only in India but also in global markets as well.”
