Ultraviolette enters Europe, eyes 35 pc of revenue from global exports by 2028
Premium electric motorcycle maker
Ultraviolette
on Monday announced its foray into the
European market
as part of plans to expand global footprint with an eye on up to 35 per cent of its revenue to come from exports by 2028.
The company has launched its flagship performance motorcycles --
F77 MACH 2
and
F77 SuperStreet
-- for retail across Germany, France, the UK, Ireland, Austria, Italy, Switzerland, Belgium, the Netherlands, and Luxembourg.
"We were clear that we want to build a brand out of India that can scale globally. So, component selection, design, software architecture, all of these, we had taken decisions keeping global markets and European markets to begin with," Ultraviolette CEO & Co-founder Narayan Subramaniam told PTI.
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He was responding to a query on the company's global ambitions.
The company chose Europe as the starting point due to its "
motorcycling culture
" with strong affinity for design and performance, he added.
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Besides, Subramaniam said, "The fact that certification for Europe allows us now to retail in 40 countries was also a major aspect and the European certifications are stringent."
Ultraviolette will be exporting completely built units from India, which will be retailed through distributors in different European markets, he added.
When asked about sales expectations, he said, "2025 for us will be a 'pilot market' of Europe, but I would say by 2028, probably 30 per cent to 35 per cent of our overall revenue should be from overseas markets."
Once the company establishes its foot firmly in Europe, he said, Ultraviolette will look at entering South East Asia and Latin American markets.
On the possibility of setting up local assembly plants in Europe, he said, "As of now there is a relaxation in taxes for electric vehicle import into Europe...For now, we will be manufacturing in India and exporting to Europe."
He further said, "At a certain point in time, once our scale builds up then we would have to look at a little more localisation."
The F77 motorcycles are equipped with a 10.3 kWh battery pack delivering a peak power output of 30 kW and can accelerate from 0 to 60 kph in just 2.8 seconds with a top speed of 155 km/hr, the company said. PTI
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