New Delhi, Dec 29 (PTI) Electric premium motorcycle maker Ultraviolette is scaling up its commercial operations, targetting monthly sales of 1,000 units a month by the second half of 2025 while also gearing up to enter European and other international markets next year, according to top company officials.
The company plans to increase its sales network to 30 cities next year from 12 cities at present, having put in place the technology base for its product and validated through real-world testing, Ultraviolette CTO and co-founder Niraj Rajmohan told PTI.
“This year (2025) is where we are starting to scale up from a commercialisation point of view. The product and technology are very stable. It also gives us that ability to sustainably produce and be economically viable from a company operating standpoint,” he said.
When asked about the volume target, Rajmohan said the company’s objective is to clock about 1,000 units a month by the second half of 2025.
So far, the company has sold a total of 1,000 units of its F77 Mach 2 electric bike, which has two variants with prices starting at Rs 2.99 lakh.
Elaborating on the scaling up of commercial operations, he said it will be both in India and international markets but of varying nature.
“In India, 2025 is going to be a year of massive scale up from a commercial availability point of view…for European markets and other international markets, it is going to be a pilot like how we did last year in India for us,” Rajmohan said, adding it was about a having “a controlled experience of making sure of all the fundamentals right before scaling up further in terms of commercial availability”.
As part of the plan, he said, the company has completed the first phase of network expansion with a presence in 12 cities in India.
“The next year is going to be scaling up to 30 cities in terms of availability, sales, service and spares,” he added.
When asked if the company would consider entering the mass market electric scooter segment, Ultraviolette CEO and co-founder Narayan Subramaniam said in the foreseeable future, the company’s “bandwidth is going to be occupied by motorcycles”.
“We now have the ability to scale up to multiple other motorcycle segments. We will definitely, in the next two to three years, be present across four or five different product lines in the motorcycle space. The price band will also widen more,” he noted.
Subramaniam further said, “We may not want to get into a typical perception of the mass segment, which is about undercutting competition”.
Asked if Ultraviolette, in which TVS Motor Co is an investor, will be looking to raise further funds to finance its growth, Rajmohan said at present, the company is self-sufficient.
“There are growth objectives, and now is the time we see the opportunity to double down on growth. From that point of view, you may see some investments happen in the company,” he said without elaborating.
On the possibility of tapping capital markets with an IPO, Rajmohan said the company’s priority now is to build a sustainable and profitable business, and such a decision would be taken at an appropriate time after scaling up the business.
“We have some rough timelines, I would say 18 months at the very minimum,” he said when asked for a timeframe for going public. PTI RKL BAL BAL
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