Ultraviolette plans new models, global expansion to boost retail footprint

Indian electric motorcycle manufacturer Ultraviolette is set to expand its retail footprint and product lineup. With the recent opening of its 11th dealership in Mumbai, the company plans to establish a presence in 30 Indian cities and 20 international markets within the next two years.  In addition to its flagship F77 model, the company plans to introduce two to three new motorcycle models in the next two years. These new offerings will cater to different segments of the market, expanding the company's reach to a wider audience.  So far, the company has deployed 1,000 vehicles on the road and aims to hit a monthly sales target of 1,000 units within the next 6 to 8 months.  Ultraviolette's vision includes a focus on exports, targeting key markets in Turkey, Germany, Spain, Portugal, France, and Italy. The company aims to generate 30 per cent of its revenue from international sales within the next three years and is set to begin retailing in international markets by 2025.  To support this goal, Ultraviolette's manufacturing facility in Bangalore is equipped with an annual capacity of 10,000 units, running on a single shift. This capacity can be scaled up to 30,000 units annually by operating additional shifts.  "Our powertrain and platform are extremely capable. They are flexible enough to power multiple vehicle segments, and we plan to introduce two to three new models in the next two years,” said Narayan Subramaniam, co-founder and CEO of Ultraviolette.  Ultraviolette is also exploring the possibility of localised assembly facilities in specific markets across Asia and South America, depending on demand and local regulatory requirements in the near future.  “Our approach is to ensure that all our retail outlets come equipped with robust service and spare parts support,” added Subramaniam. “Service will always be a priority, even preceding sales, to ensure a seamless ownership experience for our customers.”  Ultraviolette is targeting the mid-segment performance motorcycle market, which represents a portion of the global two-wheeler revenue despite being a smaller share of total unit sales. In India, this segment comprises approximately 3 million units annually. Globally, the mid-segment accounts for 25–30 per cent of the market by volume but contributes nearly 50 per cent of the revenue in the two-wheeler space.  The company has so far deployed Rs 50–55 crore in research and development and production capabilities.  The company is positioning itself as a first-mover in the electric performance motorcycle space, where there are currently limited players globally. “We’ve spent seven years developing our technology ground-up, and this gives us a significant first-mover advantage,” Subramaniam further added.