Ultraviolette Targets 12 New Models in 3 Years, Annual Sales of 1 Lakh Units in 3-4 Years

Electric two-wheeler maker Ultraviolette Automotive plans to add 12 new products to its line-up over the next three years and raise its annual sales to at least 1 lakh units over the next three-four years, according to senior company officials.

The Bengaluru-based startup, which has been a niche player in the premium performance electric motorcycle space, today revealed plans to broaden its market reach into more volume generating segments with an urban commuter scooter and a light motorcycle early next year.

Over a period of 36 months, the automaker will expand its products across five platforms - F Series, S-Series, L Series, X Series and B Series, Ultraviolette co-founder and CEO Narayan Subramaniam said. The F, S, L and X series will have three products each while the B series will have two offerings, according to his presentation.

Currently, it has two performance products under F Series - F77 Mach 2 and F77 SuperStreet, priced over Rs 3 lakh. The first scooter model Tesseract will come under the S Series, which is for scooters, while the light motorcycle Shockwave, an adventure street model, will be under the L series, which is for light weight motorcycles. The X and B series is likely to have crossover or cruiser models.

Till now, TVS Motor-backed Ultraviolette has been a niche player, targeting the small segment of performance enthusiasts in both India and a few European markets. However, the company's future lineup shows an aggressive gameplan to capture a larger pie of the market as electrification picks up in the country.

"We have a very aggressive product expansion plans. It is ambitious," Ultraviolette co-founder and CTO Niraj Rajmohan said, adding that the target is very conservative and the company was confident of surpassing it.

Electrification in India is in its early stage, primarily driven by scooters priced mostly under the Rs 1.5 lakh. With its first electric scooter scheduled to be launched at Rs 1.45 lakh, Ultraviolette's addressable market is set to expand significantly.

Currently, the penetration of electric vehicles in the scooter segment is 13-14%. Bajaj Auto, Ola Electric, TVS Motor and Ather Energy are the major players in the market. Electric motorcycles, on the other hand, are yet to see significant traction in India, with limited offerings from a few startups.

At present, Ultraviolette is among the few players in the electric motorcycle market, and competes with brands such as Revolt and Matter. The requirement of longer driving ranges and the complexity of having larger battery packs have been among the major challenges facing this form-factor.

Meanwhile, India's largest electric two-wheeler maker Ola Electric is planning to roll out its first electric motorcycle Roadster this month, while Ather Energy is working on a platform named Zenith to support new electric motorcycles targeting the 125-300 cc segments users.

Among traditional players, Royal Enfield has already announced its plans to enter the electric motorcycle space with Flying Flea brand while Hero MotorCorp, which has a partnership with US-based electric motorcycle maker Zero, is set to introduce electric motorcycle starting from 2026. TVS Motor-owned Norton Motorcycles is also expected to launch new electric motorcycles next year.