NEW DELHI: Ultraviolette Automotive, Bangalore-based maker of electric sports bikes, has not only produced India’s fastest motorcycle while also churning out one of the longest range on a single charge, but has also scooped up funding from marquee investors such as Netherlands-headquartered Exor – the biggest shareholder in Ferrari and Stellantis – and TVS Motor, apart from American tech giant Qualcomm Ventures.
The company, which sells the F77 bike (Mach2 and Super Street) priced upwards of Rs 3 lakh (ex-showroom, Delhi), plans to bring three new electric motorcycles, and also a long-range scooter, founders Narayan Subramaniam and Niraj Rajmohan told TOI. The e-bikes maker is also preparing to enter overseas markets having cleared homologation (roadworthiness certification) for Europe for the F77 Mach2.
Valued at $330 million in its last fund-raise in 2022, the company has sold around 1,000 units of the F77 since its launch in 2023. With rapid expansion beyond Bangalore – it has entered 11 new cities recently, including Delhi, Mumbai, Ahmedabad, Hyderabad, Pune, Chennai and Vizag – it hopes to corner higher sales. “By the end of this year, the target is to reach around 50 cities.” The company’s F99 racing prototype motorcycle had hit 258 kms per hour in Jan this year, which is the fastest for an India-made two-wheeler.
Subramaniam said while the F77 (pitted against petrol bikes from brands such as Triumph, KTM and Royal Enfield) will continue to be the flagship model, the three motorcycles – to be available across multiple price segments – would primarily compete with petrol models that are in the 150-300cc segments. “The price of these motorcycles will be relatively competitive when compared to the F77, and when fully launched, the portfolio can comfortably be priced under Rs 2 lakh. The new bikes will include an urban commuter and an adventure tourer. The scooter will also be an urban commuter, but will come with a long range option.”
Rajmohan said the company’s key focus is on indigenisation and building in-house capabilities. “There was a near seven-year pre-launch R&D in areas such as battery technology, motor, battery management system, and vehicle control unit.”