Powering Up: Ultraviolette's Bold $100M Plan for EV Expansion

Electric two-wheeler manufacturer Ultraviolette plans to invest up to USD 100 million (approximately Rs 870 crore) over the next three to four years to expand its product lineup, manufacturing capacity, and sales network.

The company aims to introduce ten new products, including electric scooters and long-range cruiser bikes, within three years, with a target of selling one lakh units annually during this period. It also plans to strengthen its market presence in India, Europe, and Southeast Asia.

Ultraviolette has already made significant investments in R&D to develop key technologies, including charging systems, battery systems, motor control, vehicle electronics, smart connectivity, and advanced sensing systems. "We are in discussions for a larger investment in the range of $70-100 million to support product portfolio expansion, geographic growth, and overall scaling," said CTO & Co-founder Rajmohan.

Currently operating in 13 Indian cities, Ultraviolette plans to expand to 30 cities by the end of the year and reach around 100 cities within four years. The company will accelerate its expansion efforts in the latter half of the year.

News by Rahul Yelligetti.