Ultraviolet eyes 5 lakh annual sales by 2030, notes Q1


Ultraviolet eyes 5 lakh annual sales by 2030, notes Q1

Ultraviolette Automotive just closed its best quarter yet. Between April and June this year, the Bengaluru-based electric motorcycle maker sold more than 1,500 vehicles, up from 300 in the same quarter last year. That is an increase of over 400 percent.The company’s co-founders, CEO Narayan Subramaniam and CTO Niraj Rajmohan, spoke to TOI Auto about the quarter and where the company is headed. Ultraviolette claims to have overtaken a rival premium motorcycle brand in mid-size sales in India, and is running neck and neck with another mid-size range, despite operating a fraction of their dealer networks. “Ultraviolette now has 40 stores. Even with that distribution, we outperformed (that rival’s) sales,” said Rajmohan. In another rival, the acquisition was more measured. “We’re kind of in the same ballpark as (their) sales as well,” Subramaniam said. He added that the company sold about 650 vehicles in June alone from those 40 stores. It should be noted that these numbers are Ultraviolette’s own reading of the market.The company’s X47 crossover motorcycle is at the center of this growth. Rajmohan said the pricing of the X47 to be close to the same petrol bikes, rather than at a premium, was intentional, and the company has logged over 40 percent quarter-on-quarter growth for four to five quarters running. Within Ultraviolette’s own line, the X47 accounts for nearly 85 percent of sales, with the F77 accounting for the rest.Growth is not limited to big cities. Subramaniam says bookings are split almost equally between Tier 1 and Tier 2 cities, a trend he attributes to the initial rise of electric scooters building wider awareness. “Once a scooter segment is established, people will start moving towards some performance-oriented motorcycle segments,” he said. He also points to the company’s battery warranty, which extends up to eight years or eight lakh kms, as a factor that has won over buyers outside the metro.Speaking on Delhi’s EV Policy 2.0, which was approved by the Delhi cabinet and in effect from July 1, 2026. It will stop the registration of new petrol and CNG two-wheelers in the capital from April 1, 2028, although vehicles already on the road will not be affected. Subramaniam called the policy an opportunity and said that Ultraviolette never planned to remain only a premium motorcycle maker. Two other products, the Tesseract and Shockwave, come at more accessible price points. “Our vision is always electric at scale will not be scooters or motorcycles, it will be both,” he said, adding a sales target of four to five lakh cars a year by 2030.Asked about established players entering the electric motorcycle segment, Subramaniam welcomed the competition. “This is a sign that the segment will now start to grow rapidly,” he said. Rajmohan compared this to how electric scooter penetration went from less than 1 percent to almost 15 percent once serious manufacturers entered the market.Builders also described widespread buyer confusion over the government’s ethanol blending push. Rajmohan added that this uncertainty, paradoxically, favors EVs, because the electric offers “a feature, which is very straightforward and easy to buy.”



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