Dealers File Police Complaint Against Tork Motors, Bharat Forge Writes-Off Investment In Tork Motors

Pune-based electric two-wheeler manufacturer Tork Motors has been at a standstill since last year. It has not been able to produce or dispatch even a single motorcycle to its dealers since December. This has created significant problems for Tork dealers across the nation. In an attempt to settle their dues, the dealers have now filed a collective police complaint against the manufacturer.

In a recent interview, Amit Kalyani, Vice Chairman & Joint Managing Director at Bharat Forge, said, “We are an investor in a company called Tork Motors. It was founded by a bright, young man from Pune, and we have invested in this company over the last 4-5 years in multiple tranches. With the withdrawal and reduction in the FAME scheme, the company’s profitability decreased, and I think it is prudent for us to take a provision because we are an investor. If the company is in a situation where we have growing concerns about its ability, we have to recognize that and ride it out. We don’t run the company; it is run by its CEO, Managing Directors, and KMPs (Key Management Personnel).”

When Bharat Forge was asked whether they have plans to invest more in the brand, they declined and confirmed that they have written off all their investments in the company so far.

Tork Motors was founded in 2010, and in addition to manufacturing electric motorcycles, they also produce powertrains for two and three-wheelers. Bharat Forge held 64.29 percent equity shares of Tork Motors.

This move is, in fact, a shock for both dealers and customers who trusted the brand and purchased their motorcycles. This decision has created uncertainty about the service and warranty of the products that have already been sold.

Several issues related to the motorcycles have been reported. There have been cases where customers were unable to connect the charger to their bikes. The motorcycle and the charger come with a 3-year warranty, and with the possibility of dealerships shutting down, customers are now in a dilemma.

As mentioned above, the Tork dealers have collectively registered a case, and Kiran Pathare, Assistant Police Inspector, Pimpri-Chinchwad, said, “The investigation is in process, and the details are confidential. Action should be taken by next week.”

Tork Motors had come up with several unique marketing methods to get their bikes delivered to customers. They used to deliver them in a box that looked like a Hot Wheels or die-cast scale model box.

Tork Kratos R is India’s first indigenously designed and developed electric motorcycle. It features a sharp, sporty design, a new trellis frame, a telescopic front fork, a rear monoshock, and disc brakes on both ends. It has a 4.3-inch TFT screen and other connected features. Tork offers the electric motorcycle in two variants: Kratos and Kratos R.

It is powered by a 4 kWh Li-Ion battery pack. The axial flux motor generates 9 kW and 38 Nm of peak torque. It has Eco, City, and Sports riding modes, and like many other electric scooters, Kratos also has a reverse gear function. The top speed of the motorcycle is 105 kmph, and it has a certified riding range of 180 km. The motorcycle also supports fast charging.