Smartron, a Hyderabad-based start-up, Monday announced that it will invest in Volta Motors, a Chennai-based automotive company that is designing and developing sustainable electric vehicles.
This company will be eventually christened as Tron Motors, a Smartron Company. It, however, did not disclose the investment figures.
This also marks a collaboration of two start-ups with the same ideals and aspirations of building an Indian brand in the global product market place, said Smartron, which claims to be India's first global IoT brand.
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Volta Motors has so far designed and developed India's first crossover electric bike 'VOLTA ZAP'. Under the aegis of this new company the team will accelerate the development, manufacturing and commercialisation of these vehicles.
The company also intends to bring out a range of IoT enabled electric vehicles that will be designed, engineered, and manufactured in India for India and the world. It will also redefine the lifestyle segment of mobility by being sustainable and promote healthy living.
"Our association with Volta illustrates the strategy that Smartron has pursued from its inception that we need to be known as a company that is building a strong product ecosystem across IoT verticals from personal to health to home to energy to farming.
"Electric eco-friendly bikes powered by an IoT platform like Smartron's TRONX will be an essential part of our range of smart products," said Mahesh Lingareddy, founder and Chairman of Smartron India.
"We are excited to be a part of Smartron's journey. We share similar synergies of bringing in smart and innovative products that are aligned to create an Indian brand that is recognised globally," said Anoop Nishanth, CEO, Volta Motors.