Electric two-wheeler manufacturer Ultraviolette plans to invest up to USD 100 million over the next three to four years to expand its product portfolio, manufacturing capacity, and sales network. The company aims to achieve annual sales of 100,000 units within this period and expand its presence in India, Europe, and Southeast Asia.
The company has outlined plans to introduce ten new products over the next three years, including electric scooters and long-range motorcycles. These will be developed across five platforms: sports motorcycles (F series), scooters (S series), lightweight motorcycles (L series), multi-terrain vehicles (X series), and long-range cruisers (B series). Ultraviolette recently unveiled two new models, the Tesseract electric scooter and the Shockwave lightweight electric motorcycle.
Co-founder and CTO Niraj Rajmohan stated that the company has already invested in research and development, focusing on charging systems, battery technology, motor control, vehicle electronics, smart connectivity, and advanced sensing systems. He added that discussions are underway for securing additional funding in the range of USD 70-100 million to support expansion efforts.
Ultraviolette currently operates in 13 cities in India and plans to expand to 30 cities by the end of the year, with a target of reaching 100 cities in four years. Internationally, the company has identified partners in Germany, Spain, Italy, France, and the Netherlands, with a pilot launch planned for this year before expanding further in 2026.
In terms of production targets, the company expects to reach monthly sales of 1,000 units in the second half of this year and annual sales of 30,000 units next year. Rajmohan stated that the company aims to achieve operational break-even at the factory level when it reaches 1,000 monthly sales, while EBITDA-positive operations are projected at an annual sales volume of 30,000 units.
While Ultraviolette has not disclosed specific plans for an initial public offering (IPO), CEO and Co-founder Narayan Subramaniam indicated that the company will consider it at an appropriate stage as it expands across multiple product lines and markets.
The company has received investment from TVS Motor Company and is focusing on strategic expansion rather than immediate entry into markets such as the United States.