Ultraviolette’s Shocking Plan for EV: 30% Revenue from Exports!
In an exciting development for the electric vehicle (EV) industry, Ultraviolette Automotive, a Bengaluru-based start-up, a Bengaluru-based start-up, is setting ambitious goals for its future. The company, known for its innovative electric motorcycles, aims to generate 30% of its revenue from exports within the next three years. This strategic move comes on the heels of receiving global certification for its flagship model, the F77 Mach2, which is now approved for road use in 40 countries.
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Global Expansion Plans for Ultraviolette
Narayan Subramaniam, CEO and co-founder of the company, shared insights into the company’s growth strategy during a recent interaction. The start-up, backed by notable investors such as TVS Motor, Zoho, Qualcomm, and GoFrugal Technologies, plans to kick off its export operations by January/February 2025. The initial markets targeted for expansion include Turkey, Germany, Spain, France, and Italy.
“We conducted testing and roadshows in select European markets, and last month we received the global certification L3e for our F77 Mach2 bikes,” Subramaniam stated. “We expect that 30% of our sales revenue will come from exports in three years.”
Ultraviolette’s Shocking Plan for Expanding the Product Portfolio
Ultraviolette is not just focusing on exports; the company is also committed to expanding its product lineup. Subramaniam revealed that the R&D team is actively developing new models across various segments, including sports, street, cruiser/roadster, adventure, and scrambler bikes. This diversification aims to cater to a broader audience and enhance the brand’s presence in the competitive EV market.
Production Capacity and Future Goals
Since launching its retail operations in select Indian cities in April 2024, Ultraviolette has successfully sold over 1,000 bikes. The company’s manufacturing facility in Bengaluru Electronics City currently has a production capacity of 30,000 bikes per year, with plans to ramp up production to 1,000 units per month in a single shift. Subramaniam expressed optimism about reaching full capacity by 2027, especially as the company expands into more Indian cities.
“We are adequately capitalized for the time being and expect to achieve breakeven by mid-2025,” he added. To support future growth, Ultraviolette is scouting for land in Tamil Nadu, Andhra Pradesh, Karnataka, and Maharashtra to establish new manufacturing facilities.
Enhancing Customer Experience
In a bid to enhance customer engagement, the EV company recently opened an Experience Centre in Chennai, with plans to launch additional centres in Coimbatore, New Delhi, and Mumbai next month. Currently, the company operates seven Experience Centres and aims to expand this number to 30 by March 2025. These centres will provide potential customers with hands-on experiences of Ultraviolette’s electric motorcycles, further solidifying the brand’s presence in the market.
As Ultraviolette Automotive gears up for an exciting future, its commitment to innovation, expansion, and customer experience positions it as a formidable player in the electric vehicle landscape. With ambitious export goals and a diverse product lineup on the horizon, Ultraviolette is poised to make a significant impact in both domestic and international markets. Stay tuned for more updates on this dynamic EV start-up!
