TVS Motor is infiltrating more in Ultraviolette EV

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Ultraviolette EV has announced that they have received Rs.30 Cr as apart of Series B investment from TVS motors today. The picture was taken during the F77 Launch event The EV is the future of transportation as almost all the automobile companies are trying to enter or establish their own EV product line. Companies like TESLA, Rivian, AUDI, BMW and a few others had already made their impression in EV. But in India, the story is different because there are very few EV players on a small scale level. Companies like TATA and Hero moto corp are investing nickles and dimes many EV startups like Tork motors and Ather Energy. An Inside outlook to F77 Likewise, TVS motors have invested in Ultraviolette Automotive an EV startup based on Karnataka, India. They made an initial investment of Rs.11 Cr around 2017, Then extended their investment by preference share of Rs.5 Cr in last fiscal. But in today’s news Ultraviolette Automotive has said that they have risen another Rs.30 Cr as a part of the
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Singapore based Tata Power owned subsidiary completes the sale of 3 ships for $212 Million on Tuesday:

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On Tuesday, 7th July 2020 a Tata power wholly-owned subsidiary Trust Energy Resources Pte Ltd has completed the sale of 3 ships to a german company.

Image of a TATA Power factory

‘Singapore-based Trust Energy Resources Pte Ltd (TERPL), a wholly-owned subsidiary of Tata Power has announced the completion of a sale of its three ships MV Trust Agility, MV Trust Integrity and MV Trust Amity to Oldendorff Carriers GmbH & Co. KG, Germany for a consideration of USD 212.76 million,’ Tata Power said in a regulatory filing. This deal was made in the month of June to reduce the debt burden of the firm in the long run. The recent tweet made by tata power official twitter page confirms the news.
The Image of 3 ships sold is shown below:

MV Trust AgilityMV Trust Integrity
MV Trust Amity

This sale will help the company to reduce the debt burden of the firm and help them to raise more fund for future expansion and diversification, This is the second asset sale made by tata power in recent months followed by Cennergi in South Africa. The company is now focusing on expanding its presence in renewable energy these sales will help them to boost their R&D in the renewable segment. 

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Sony will focus and increase it’s overall value, as the company has decided to change the name after 62 years:

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Sony corporation will make some series of changes to its organization structure, Financial services and the biggest of all name change. Effective from April 1, 2021, all these changes will be made as the company said in a press release on May 19, 2020. These changes are made with the objective to increasing the overall value of the Sony corporation from a long-term perspective, the key missions of Sony Corporation will be: 1-business portfolio management & strategic capital allocation, 2-value creation through Group synergies and business incubation, and 3-investment in the talent and technology that form the foundations of innovation. From the next fiscal ‘sony corporation’ will be renamed as ‘sony group corporation’, sony electronics corporation which deals with the sony origin business(electronic products) will succeed to the name ‘sony corporation’ and few other changes to its financial Services and executive structure reform. Sony has faced some issues with the competitor in
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TVS Motor is infiltrating more in Ultraviolette EV

By -
Image
Ultraviolette EV has announced that they have received Rs.30 Cr as apart of Series B investment from TVS motors today. The picture was taken during the F77 Launch event The EV is the future of transportation as almost all the automobile companies are trying to enter or establish their own EV product line. Companies like TESLA, Rivian, AUDI, BMW and a few others had already made their impression in EV. But in India, the story is different because there are very few EV players on a small scale level. Companies like TATA and Hero moto corp are investing nickles and dimes many EV startups like Tork motors and Ather Energy. An Inside outlook to F77 Likewise, TVS motors have invested in Ultraviolette Automotive an EV startup based on Karnataka, India. They made an initial investment of Rs.11 Cr around 2017, Then extended their investment by preference share of Rs.5 Cr in last fiscal. But in today’s news Ultraviolette Automotive has said that they have risen another Rs.30 Cr as a part of the
Read more