Tork Motors: From India’s electric car hope to a cautionary tale
Once seen as a shining example of India’s electric vehicle (EV) dream, Tork Motors is now a warning sign for the country’s growing EV startup scene. The company, known for its bold electric motorcycles, appears to be on the wane. Recent reports suggest that Tork Motors, which is majority-owned by Pune-based auto component maker Bharat Forge, laid off nearly 100 employees in July. Some of these former employees are still waiting for salaries, with arrears dating back to March. There are also issues with product deliveries; dealers are reporting delays in receiving their stock. An insider described the situation at the company as “very uncertain.” The rise and fall of Trafigura Motors Tork Motors initially had a promising future. Led by mechanical engineer Kapil Shelke, the company seemed to have everything a startup could hope for: media buzz, high-profile investors, enthusiastic employees, and a solid network of dealers and suppliers. However, as is often the case with startups in emerging…
Tork Motors in trouble
Tork Kratos X Electric MotorcycleThe cancellation of subsidies and the inability to obtain new funding have posed significant challenges to Tork MotorsWhile the electric two-wheeler market continues to see strong growth, some startups are facing an uncertain future. A case in point is Pune-based electric vehicle startup Tork Motors, which currently offers only one product – the Kratos R electric motorcycle.The dealer complained to the policeAccording to dealers, Tork Motors stopped deliveries since December 2023. Now, more than seven months have passed and the dealers have collectively filed a police complaint. They were promised to resume deliveries by the end of June, but there has been no further news. Dealers report that the company has not been responsive and most customers have cancelled their bookings. The manufacturing unit in Chakan has reportedly been shut down since last year.Tork electric scooter owners protestKiran Pathare, assistant police officer of Pimpuri Chinchwad, said an investigation was underway based on a complaint from a…
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