Electric two-wheeler startup Ultraviolette targets an annual production capacity of about 300,000 vehicles by the middle of 2027 as it expands its manufacturing footprint to a new facility and prepares to launch new motorcycles and scooters, co-founder Narayan Subramaniam said.
The company is building a new facility in Tamil Nadu that will initially have the capacity to produce 250,000 vehicles annually. Combined with its existing plant, which is being expanded to a capacity of about 50,000 units, Ultraviolette expects its total capacity to reach about 300,000 vehicles.
The first phase of the new facility is expected to become operational between the first and second quarters of 2027, Subramaniam said.
Ultraviolette ultimately plans to scale the new plant to an annual capacity of 500,000 vehicles. The facility will manufacture motorcycles and scooters and cater to both domestic and international markets.
Rs 1,000 Crore Investment Plan Across Two Facilities
The company plans to invest about Rs 1,000 crore over five years across the two facilities, including about Rs 200 crore at its existing plant and around Rs 800 crore at the new facility.
The expansion comes as Ultraviolette prepares to broaden its product portfolio. It currently has two motorcycles in production, the F77 and X47, and plans to launch the Shockwave lightweight electric motorcycle and the Tesseract electric scooter.
Tesseract Scooter Delayed Over 100-Volt Redesign
The Tesseract's launch was delayed after Ultraviolette decided to redesign the vehicle around a 100-volt architecture, Subramaniam said. The changes required the company to realign multiple systems, including the battery pack, battery management system, controllers and charging technology.
The redesign added about eight to 10 months to the development timeline, he said, with the company now expecting to launch the scooter in the first quarter of 2027.
Ultraviolette expects demand for the Tesseract to be at least 10,000 units a month based on its current bookings and pipeline.
The company has outlined plans for a portfolio of four motorcycles and two scooters and expects the two vehicle categories to eventually contribute equally to its volumes.
Subramaniam said electric motorcycles could see rapid growth over the next 24 months as more established manufacturers enter the segment.
“We see that the same thing is likely to happen on the motorcycles, all the signs are there,” he said, referring to the rapid growth in electric scooter adoption.
Ultraviolette Eyes Export Growth and IPO Within 24 Months
Meanwhile, Ultraviolette expects exports to initially account for about 15% of production from the new plant, rising to around 25% as it expands into international markets.
The company is targeting Europe, North America and Latin America, while also exploring pilot programmes in Southeast Asia.
Subramaniam said Ultraviolette expects to reach company-level profitability in about 24 months, around the time it plans to pursue an initial public offering.
At that stage, the company expects to have six products across four continents and production at a scale of about 300,000 vehicles.
The company said it was fully capitalised for its current expansion plans but could consider additional fundraising if electric vehicle adoption accelerates and it decides to expand faster.