New Delhi, Oct 22 (PTI) Electric two-wheeler maker Ultraviolette Automotive plans to nearly double its retail footprint to 100 locations by the first quarter of 2027 and boost monthly sales to 10,000 units by the end of next year, its co-founder and CEO Narayan Subramaniam said.
The company currently has around 50 retail stores in India and is clocking monthly volumes of around 700 units. The automaker expects the volume to increase to over 1,000 units per month in the first quarter of 2027, Subramaniam told PTI on the sidelines of unveiling its VX100 high-voltage architecture and launching the X47 Venom model.
“Starting Q1 2027, we should be targeting very good volumes. Volume is not only a factor in product development, but also a factor of
distribution; by Q1 2027, we should be at 100 locations in India. Now, we are at around 50,” he said.
The retail expansion comes as the company plans to expand its product range.
Ultraviolette is targeting to launch four models over the next year.
These include the existing F77 sports motorcycle, the X47 Venom, the new Shockwave entry-level street-and-dirt motorcycle and the new Tesseract electric scooter.
By this time next year, we should be at about 10,000 vehicles a month, Subramaniam said.
He noted that demand is coming for electric motorcycles across tier-one and tier-two cities.
The X47 Venom, which comes at an introductory ex-showroom price of Rs 2.65 lakh, is the first motorcycle built on the new VX100 architecture, which operates on a 100-volt architecture.
Subramaniam said the platform was under development for two to three years and would be used for the upcoming models.
He said the new platform is engineered to deliver greater energy density, improved thermal performance and better safety with higher energy density than the previous reference configuration.
Ultraviolette is also expanding production capacity to support its growth plans. At the existing facility, it is ramping up capacity to up to 50,000 units, while a new plant is being set up.
The new plant, BIGGA (Big Global Ambition) Factory, is coming up in Hosur, Tamil Nadu, with a capacity of 2.5 lakh units in the first phase, at an investment of Rs 779 crore over five years. The company is targeting a total capacity of 3 lakh units by 2028.
Most of the capital raised has gone into product development. Now, serious capital is going into production, expansion and marketing, Subramaniam said.
International markets are another part of the company’s growth strategy.
Ultraviolette said about 15 per cent of its volumes come from overseas markets and aims to increase that share to 20-25 per cent by 2028.
The startup is backed by investors like Lingotto, TDK Ventures, Qualcomm Ventures, Zoho Corporation, TVS Motor, Yali Capital and Speciale Invest.
It has recently raised USD 85 million in a funding round led by Yali Capital and TDK Ventures. PTI KMM BAL
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