Tork Electric Motorcycle Updates

Wednesday, 04 September 2024 04:48 PM Tork Motors is facing significant financial troubles and has stopped dispatches to dealers since December 2023. Dealers have filed a police complaint due to the lack of updates and unresponsiveness from the company. This has led to a surge in customer cancellations and concerns about service and spare parts availability. I think this is a critical moment for Tork Motors, and resolving these issues quickly is crucial for customer trust.

Wednesday, 04 September 2024 05:16 PM Tork Motors is exploring the option of selling a stake to raise capital and revive its operations. The company has sent buyout proposals to several two-wheeler companies, including Kinetic Green, Hero MotoCorp, and TVS Motor Company. This move is a desperate attempt to overcome the financial challenges faced due to reduced subsidies and lack of funding.

Wednesday, 04 September 2024 07:28 PM Tork Motors, backed by investors like Ratan Tata and Bhavish Aggarwal, is struggling to maintain its operations due to financial constraints. The companys inability to secure fresh investments has affected its ability to expand its product line and maintain sales. I think the support of its prominent backers could be crucial in its survival.

Friday, 16 August 2024 01:20 AM Tork Motors has officially terminated the employment of its employees from July 31, 2024, as part of a restructuring plan to align the workforce with the companys strategic goals. Employees have not received salaries for the last seven months, adding to the financial strain. This move indicates the companys struggles to stay afloat.

Thursday, 15 August 2024 11:30 PM Bharat Forge, a major investor in Tork Motors, has written off its investment in the company. This decision was announced during a media interview about Bharat Forges Q1 earnings. The reduction in FAME subsidies and lack of fresh funding have severely impacted Tork Motors profitability. I believe this is a significant blow to Tork Motors future prospects.

Sunday, 31 December 2023 08:21 AM Tork Motors has suspended operations at its manufacturing unit in Chakan near Pune, further exacerbating the companys financial woes. The suspension has been in place since last year, and there is no clear timeline for resuming production. I believe this halt in production is a significant setback for the company.

Thursday, 12 October 2023 03:11 PM The Tork Kratos R electric motorcycle features a 72V, 3.24 kWh lithium-ion battery, offering a range of 150 km in Eco mode, 100 km in Normal mode, and 80 km in Sport mode. It has a top speed of 45 kmph across all modes and a charging time of approximately 4.5 hours. The bike also includes regenerative braking and a combi-braking system.

Thursday, 12 October 2023 09:43 AM The Tork Kratos R electric motorcycle is priced starting from Rs 1.09 lakh and features a digital instrument cluster, side stand cut-off, and regenerative braking. Despite its positive features, the companys current financial situation has raised concerns among customers about future support and service.

Monday, 04 September 2023 11:17 AM Tork Motors raised $6 million in a fresh funding round from Maxis Capital earlier this year, but a subsequent funding deal of Rs 50 crore was cancelled at the last moment. This lack of funding has severely impacted the companys product expansion plans and vehicle sales. I think securing stable funding is essential for Tork Motors to recover.

Friday, 30 June 2023 06:22 AM The reduction in FAME-II subsidies from Rs 15,000 per kWh to Rs 10,000 per kWh and capping the maximum subsidy at 15% of the ex-factory price has led to a 21% price increase for Torks electric motorcycles. This resulted in a 55% drop in sales in June 2023, although sales have rebounded slightly in 2024.