With international ambitions in mind, Bangalore-based Ultraviolette aims to first tap the domestic market starting next year
As per the latest reports, TVS-backed electric motorcycle firm Ultraviolette Automotive is keeping tabs on exporting its products to Europe and US from the second year of production. It is noteworthy that the startup is raising its Series-D round at a valuation of $300 million, with substantial investments from Qualcomm Ventures, Actor Dulquer Salman and SaaS unicorn Zoho. With international ambitions in mind, the Bangalore-based Ultraviolette aims to first tap the domestic market starting next year and then open 10 experience zones in major cities in India.
In a recent interview, the co-founder and CEO Narayan Subramaniam said, “We are looking at cities as zones in the country. One city represents a zone. While we need a physical presence, we also need to rethink whether we need the network density a typical OEM offers.” The first centre will be set up in Bangalore by January. The company is also planning to set up a service network before establishing its own service centres.
Notably, the company launched its first electric motorcycle called F77 at a starting price of ₹3.8 lakh ex-showroom for the base variant, while the F77 Recon, the top-end variant, will be priced at ₹4.55 lakh (ex-showroom). The founders justified the high price tag on the motorcycles by the technological innovations in their product which, they believe, is a valuable draw for customers. The startup is aiming to produce 15,000 units in the first year of its production.
The co-founder Rajmohan said, “The plant is capable of scaling to 100,000 units annually. By our second year, we will do 50,000-60,000 in volumes, before we go up to the maximum capacity by the third year. We felt it is rational to scale up organically to consider the volatility of supply chains, etc.”
Subramaniam said, “The investors are aligned with our plan to go international. They love the tech and believe we are designed to meet international standards.”
The company claims to offer the longest range for any electric two-wheeler in India at over 300 km on a single charge. It must be noted that its top-end model is equipped with a 10.3-kWh battery. Interestingly, the e-motorcycle maker’s next phase is to set up a charging infrastructure, with a focus on intercity connection.
