Ultraviolette Begins Exports Of Its Made-In-India E-Bikes To EU
by Krithika K L · Inc42SUMMARY
- Ultraviolette Automotive begins exports of its F77 MACH 2 electric motorcycles to European Union markets, focusing on Italy, Spain, France, Germany, and the UK.
- The F77 MACH 2, designed and produced in India, features a 10.3 kWh battery pack and is expected to be priced between €9,000 to €11,000 in Europe.
- This export initiative aligns with India's growing EV industry, as the government aims for 30% electric vehicle adoption by 2030 and introduces policies to boost domestic production and global competitiveness.
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Bengaluru-based electric vehicle startup Ultraviolette Automotive has started exporting the first batch of its made-in-India F77 MACH 2 high-performance electric motorcycles to the European Union (EU) markets.
The ceremony took place at Ultraviolette’s manufacturing facility in Bengaluru, led by Union Minister of Heavy Industries H.D. Kumaraswamy and Minister of Industries and Commerce, Karnataka, M.B. Patil.
Kumaraswamy said, “The expansion of Ultraviolette into the European market represents a defining moment for India’s automotive industry, demonstrating our nation’s ability to compete on the global stage.”
Patil added, “Bengaluru is at the forefront of India’s electric vehicle revolution, and Ultraviolette is the Tesla of India. Their success is a testament to our vibrant ecosystem for innovation.”
Founded in 2016 by Narayan Subramaniam and Niraj Rajmohan, Ultraviolette has set its sights on becoming a significant player in the global electric vehicle industry. The company has attracted investments from Lingotto, Qualcomm Ventures, Zoho Corporation, TVS Motors, and Speciale Invest.
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The F77 MACH 2, designed and produced in India, has a 10.3 kWh battery pack, the largest in the country. It also features cell-level fuse technology and an IP-67 rated enclosure.
For its European market entry, Ultraviolette will focus on Italy, Spain, France, Germany, and the UK. The F77 MACH 2 is expected to be priced between €9,000 to €11,000 in Europe, depending on government incentives and taxes.
Ultraviolette’s manufacturing facility, spread over 70,000 sq ft in Bengaluru’s Electronics City, has an initial production capacity of 15,000 electric motorcycles per year. The company plans to increase this to an annual capacity of 120,000 units.
In a Series D funding round in 2022, Ultraviolette raised $10 Mn from Amsterdam-based Exor, valuing the company at $300 Mn. The startup competes with other electric two-wheeler manufacturers in India, including Revolt, Pure EV, Ola Electric, Ather, TVS, and Hero.
In the future, Ultraviolette plans to expand its presence in more Indian cities over the coming year. The company is also developing the F99 Factory Racing Platform, with a global commercial launch expected by 2025.
This move comes amid growing interest in electric vehicles in India, with the government setting a target of 30% electric vehicle adoption by 2030.
In March 2024, the government announced a new policy reducing import taxes on EVs for companies committing to local manufacturing. Earlier this month, Maruti Suzuki announced plans for its first electric vehicle, set to launch in early 2025. The mid-size electric SUV will feature a 60 Kilowatt-hour battery with a range of 500 km on a single charge.