EV start-up Ultraviolette aims for 30% exports revenue in 3 years

Ultraviolette Automotive plans to export electric motorcycles to Europe, aiming for 30% revenue from exports in three years.

Ultraviolette Automotive, an electric vehicle platform and battery technology company, is aiming for 30% revenue through exports in three years time, said a top executive.

The Bengaluru-based EV start up backed up TVS Motor, Zoho, Qualcomm and GoFrugal Technologies among other investors will start exporting its high performance electric motorcycles to Turkey, Germany, Spain, France and Italy countries by January/February 2025.

“We conducted testing and roadshows in select few markets in the Europe. Last month, we got the global certification L3e for F77 Mach2 bikes for road use across 40 countries. We expect that 30% of sales revenue will come from exports in three years time,” said CEO and co-founder Narayan Subramaniam during an interaction.

Asked about the product details, he said that they are going to widen the existing product portfolio in the next coming months as the R&D team is in the process of developing bikes in other segments such as sports, street, cruiser/roadster, adventure and scrambler.

Ultraviolette started retailing bikes in select few Indian cities since April 2024. Till date, it has sold more than 1,000 bikes.

Mr. Subramaniam said that the existing plant in Bengaluru Electronics City had a capacity to produce 30,000 bikes per annum and currently, they were producing 1,000 units per month in single shift. They were hopeful of reaching the full capacity by 2027 as they are set to enter more Indian cities.

Asserting that they are adequately capitalised for the time being, he said they would achieve breakeven by mid-2025 and added that they have started scouting for lands in Tamil Nadu, Andhra Pradesh, Karnataka and Maharashtra to set up new factory.