In five years, Ultraviolette hopes to dominate the world’s electric motorbike industry

Over the next five years, Ultraviolette Automotive, located in Bengaluru, aims to dominate the worldwide electric motorbike industry, according to Narayan Subramaniam, CEO and co-founder of the business, who spoke with TNIE about the firm.

We are searching for leadership not only in India but also in Europe, North America, South America, and certain regions of Asia. In terms of design, technology, and performance, all of our products—the F77 and the next ones—will be disruptive, according to Subramaniam, who unveiled the F77 MACH 2 on Wednesday for Rs 2.99 lakhs.

At the moment, the firm is the only one in the nation producing performance electric bikes. Although there is currently a tiny market for this specialized product, widespread acceptance is predicted to cause it to develop rapidly over the next few years. As of right now, Ultraviolette regards every competitor in the 300cc–600cc class as its rival. This category is estimated to be worth more than one lakh units each month.

The co-founder went on to say that developing a fantastic product is essential to being a leader. “This is the center of everything, and we believe we got it right. We’ve managed to keep the pricing below Rs 3 lakh, and all the features are excellent,” he said.

Ultraviolette is in negotiations with investors to obtain more funds in order to achieve the ambitious aim. The industry is capital-intensive. A couple investors and I are having a talk. We want to expedite our growth strategy with the help of the funds,” Subramaniam said. It was reported last year that the business was trying to raise $120 million. Prior to this, the business attracted more than $55 million from well-known investors including Qualcomm Ventures, TVS Motor, EXOR Capital in Europe, and Zoho Corp.

By the end of this year, Subramaniam added, 1,000 bikes would be distributed each month from the Bengaluru facility. Ultraviolette intends to expand the manufacturing plant and work numerous shifts starting in the next year.