
Ultraviolette vrooms into Europe with electric bikes
Less than three years after launching its electric motorcycle in India,
Ultraviolette Automotive
has now made its foray into the European market, beginning with Germany and France. The company has commenced shipments of its F77 MACH 2 and F77 SuperStreet models, with an initial batch of around 100 units headed to these two countries.
Founded in 2016, the EV maker spent nearly six years developing its flagship high-performance electric motorcycle, the F77, which officially launched in the Indian market in November 2022. Over time,
Ultraviolette
has vertically integrated all core subsystems, including the in-house development of battery packs and battery management systems. Its bikes are manufactured at a facility in the Jigani Industrial Area, Bengaluru.
'From the beginning, we have always envisioned our products for the global market as well. Our international journey really took shape when we began participating in the Milan Motorcycle Show (EICMA) in 2023. That's where we started attracting serious interest from international distributors,'
Niraj Rajmohan
, CTO and Co-founder of Ultraviolette Automotive, told ETAuto.
In 2023, Ultraviolette also applied for European certification for its electric motorcycles and secured approvals in September 2024. The certifications include UN 38.3 for lithium-ion battery safety, UNECE L3e-A1 homologation for two-wheelers, and ISO 9001:2015 for quality management and manufacturing processes, thereby meeting some of the most stringent regulatory standards required to sell and operate vehicles in the European market.
From a three to five-year perspective, the Bengaluru-based EV maker expects India to remain its largest revenue contributor, accounting for 50 per cent or more. 'While international volumes may be smaller initially, we anticipate that higher price points in overseas markets could drive 30–40 per cent of our overall business during the same period,'
Rajmohan
said.
The company is retailing completely built units (CBUs) in Europe through three primary distribution partners--Dream Center in Germany, Pink Mobility in France, and Moto Mondo, which manages operations in both the UK and the Netherlands. Ultraviolette will also supply spare parts and offer ongoing support to its partners' technical teams, who visited Bengaluru in March for comprehensive service training.
'Each distributor works with several dealer partners in their respective markets. The European market typically follows a two-tiered structure, where country-level distributors handle core functions such as marketing, training, and technical support, while local dealers, often multi-brand outlets, manage regional sales and customer service,' Rajmohan said.
These distributors will serve as Ultraviolette's official representatives in each country, receiving vehicles directly from the company and overseeing imports, logistics, and coordination with local dealers. The dealers, typically smaller, multi-brand outlets, handle regional sales and customer engagement, while relying on the distributors for advanced technical support and spare parts management when needed.
'Motorcycling in Northern Europe is largely seasonal, concentrated in the summer months, while in Southern Europe, it continues year-round. The margins in these markets are also comparatively higher,' he added.
Plan ahead
By next month, Ultraviolette aims to export 500 units to key European markets, including Spain, the Netherlands, the UK, France, and Germany. Following this initial phase, it plans to expand its footprint into additional countries such as Portugal, Belgium, and other parts of Europe. The company will compete with global benchmarks like BMW and KTM.
'One of the key reasons we've been able to enter global markets is our focus on getting four fundamentals right– pricing, performance, design, and technology. You simply can't compromise on any of them,' Rajmohan said.
When asked about the possibility of joint ventures or establishing local manufacturing units overseas, Ultraviolette confirmed that it has already engaged in early-stage discussions on the matter. 'We're open to a wide range of partnerships, whether it's expanding our distribution and dealer network or collaborating on charging infrastructure.'
In the long term, the nine-year old company anticipates establishing global hubs for 'assembly or even manufacturing, depending on region-specific factors like import duties, government incentives, and local market dynamics.'
Ultraviolette's electric motorcycles support two types of charging interfaces. The first is a Type 6 connector, integrated into the vehicle and compliant with both the European EN 62196 standard and the Indian IS 17017. Additionally, the company offers equipment that enables charging via the widely used Type 2 car charging infrastructure. Both formats are based on European standards, ensuring broad compatibility and flexibility across markets.
India strategy
Ultraviolette has sold nearly 2,000 units in India so far. While operations were limited to Bengaluru last year, it has since expanded to 15 cities nationwide as part of its domestic growth strategy.
Since inception, Ultraviolette has raised approximately $70 million from key investors, including TVS Motor Company, Zoho Corporation, Qualcomm Ventures, Speciale Invest, and Lingotto, which is a subsidiary of EXOR NV, known for its majority stakes in several iconic global brands.
While 2025 will serve as Ultraviolette's pilot year for international markets, the company is simultaneously ramping up manufacturing and scale in India. To support this growth, it is aiming to raise approximately $100 million by the next quarter, with plans afoot for an IPO by 2027.
In March, Ultraviolette also launched the Shockwave electric bike along with its first-ever electric scooter, the Tesseract.
Its current manufacturing facility has an annual capacity of up to 30,000 units. 'On the domestic front, our goal is to be present in 100 cities across India by the end of this year,' Rajmohan said.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Mint
9 minutes ago
- Mint
Indian shares inch lower as Kotak earnings drag financials, trade deal delay weighs
By Bharath Rajeswaran and Vivek Kumar M (Reuters) -Indian shares inched lower on Monday as weak results from Kotak Mahindra Bank weighed on sentiment, while uncertainty over trade talks with the U.S. added to overall caution. The Nifty 50 fell 0.16% to 24,798.9 points and the BSE Sensex lost 0.2% to 81,325.4 as of 10:03 a.m. IST. The broader small-caps and mid-caps lost 0.3% and 0.2%, respectively. Negotiations between India and the United States remained deadlocked over tariff cuts on agriculture and dairy products, dimming hopes of an interim deal ahead of U.S. President Donald Trump's August 1 deadline. This is in contrast to a framework trade agreement struck between the U.S. and European Union over the weekend, easing fears of a bigger trade war between the two allies, which account for almost a third of global trade. High-weightage financials and private banks lost 0.2% and 1%, respectively, dragged by a 7% fall in Kotak Mahindra Bank after it posted a drop in quarterly profit. The IT index lost 0.5%, with Tata Consultancy Services shedding 1.6% after it announced plans to reduce its workforce by 2% in fiscal year 2026. The Nifty 50 and 30-stock Sensex have logged four consecutive weekly losses due to weak earnings, foreign outflows and uncertainty over the U.S.-India trade deal. "A dull earnings season and the lingering delay in the India-U.S. trade deal have clearly cast a shadow on market sentiment. With valuations still stretched across the board, investors are understandably treading with heightened caution," said G Chokkalingam, founder and head of research at Equinomics Research. Among individual stocks, Mphasis gained 2.4% on posting quarterly results in-line with estimates and on strong deal bookings, which has boosted the IT company's revenue growth outlook. SBI Cards and Payment Services lost 3.7% after missing profit estimates in the June quarter. (Reporting by Vivek Kumar M and Bharath Rajeswaran; Editing by Eileen Soreng and Mrigank Dhaniwala)


Economic Times
9 minutes ago
- Economic Times
Market in consolidation mode; triggers needed, says Sunil Subramaniam
Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads "Another reason for pharma's past underperformance is that FIIs were driving the selling pressure. They closely track export-oriented sectors. So the recent post-results bounce in pharma is largely driven by DIIs. FIIs still haven't firmed up their stance on India. They remain a bit cautious, especially because the delay in the BTA (Bilateral Trade Agreement) hasn't helped sentiment," says Sunil Subramaniam , Market like you said, the question is—why were they under pressure in the first place? I'd call it the Trump effect. Mr. Trump has been talking a lot about imposing heavy pharma tariffs. He hasn't actually done anything yet, but every time he makes such statements, it creates nervousness—whether he's targeting CDMO players or generics, and how he plans to go about it. That uncertainty has impacted the pharma sector, putting it under when individual companies are reporting good numbers, the market has no choice but to buy into them—because at least those companies are indicating a positive outlook. Plus, some of them may not even be impacted by tariffs, creating a window of opportunity. Also, the pharma space includes domestic-oriented businesses like hospitals and diagnostics, which are unaffected by U.S. tariff issues. So overall, pharma remains a defensive reason for pharma's past underperformance is that FIIs were driving the selling pressure. They closely track export-oriented sectors. So the recent post-results bounce in pharma is largely driven by DIIs. FIIs still haven't firmed up their stance on India. They remain a bit cautious, especially because the delay in the BTA (Bilateral Trade Agreement) hasn't helped we need to understand the market's movement over the last three months. Post-March, FIIs were actually buyers in April and May, and even in June, though to a lesser extent. Meanwhile, if you look at the end of March, mutual fund DIIs—especially domestic mutual funds—had built up cash positions to around 7.25% of their April and May, both mutual funds and FIIs were buying, which supported the market. But starting this month, mutual fund cash levels are back down to around 5%, which is close to their lower limit. That means DIIs don't have as much cash left to deploy, apart from the fresh SIP looking at last earnings season and market levels, domestic funds have largely deployed their cash. FIIs, on the other hand, had expected some action around the BTA by July 9, which then got pushed to August 1. But now, even that deadline seems unlikely to be met. The Indian trade delegation has returned from the U.S. without a deal. Sticking points remain—like agriculture—and they won't be easy to the question now is whether Trump will extend the 10% tariff pause beyond August 1 or slap a 26% tariff on India and then negotiate, like he did with Japan—imposing higher tariffs first and then signing a deal at 19%. That kind of uncertainty around the India-U.S. BTA is keeping FIIs factor is China. While China and the U.S. haven't signed a full BTA either, they seem to have reached some understanding. Meanwhile, China's markets have been beaten down so much that the one-year forward P/E is around 11—compared to India's 22. And China's economy is about 4.5 times larger than India's. Even at 4% growth, those are big numbers. So FIIs are starting to see more value in China, pulling some attention away from as for your question on the next trigger—clearly, a breakthrough on the BTA front, like an interim deal or assurance that tariffs will be capped below 20%, could bring FIIs back. On the domestic side, it's the ongoing earnings season. Results have been mixed. The IT sector, for instance, didn't post terrible earnings, but weak guidance is weighing heavily, especially in the absence of FII DIIs have already used most of their cash, their incremental buying will depend on the inflow from SIPs and earnings results. So companies with strong earnings and forward guidance will likely get DII if the early festival season gives good signs on the consumption front, that could also be a positive trigger. Until then, expect the market to remain in a sideways, consolidative phase for some time.

Economic Times
9 minutes ago
- Economic Times
India bonds may continue to see selling pressure at start of week
Indian government bonds are likely to see persistent selling pressure in early deals on Monday, as sentiment remains cautious after the benchmark bond yield rose above a key level in the previous session. ADVERTISEMENT The yield on the benchmark 10-year bond is likely to move between 6.33% and 6.37%, a trader at a private bank said, after closing at 6.3505% on Friday - the highest level since May 9. "Traders are losing interest and not building fresh positions, and hence we witnessed a large selloff after the debt auction on Friday," the trader said. The Reserve Bank of India sold 300 billion rupees ($3.47 billion) of the benchmark 2035 bond on Friday, the cutoff for which was in line with estimates, but the note witnessed selling pressure after the result was announced. Selling was exacerbated after the RBI governor's comments curbed expectations for rate easing, prompting those who were betting on an August cut to pare positions. ADVERTISEMENT Sanjay Malhotra said monetary policy, being forward-looking, will place greater focus on the outlook for growth and inflation, rather than their current levels, when the policy panel meets on August 6. Malhotra added that the bar for further easing is higher than it would have been if the stance was accommodative, though the RBI still has the flexibility to move the rates up, down or pause. ADVERTISEMENT A plunge in India's retail inflation to a more than six-year low and expectations that it will slip to a record low in July have led to increased talk of a rate cut in August. ADVERTISEMENT India's overnight index swap rates rose on Friday, as market participants trimmed rate cut bets for next week. The one-year OIS rate ended at 5.53% on Friday and the two-year OIS rate ended at 5.51%. The liquid five-year OIS rate settled at 5.73%. KEY INDICATORS: ** Benchmark Brent crude futures were 0.4% higher at $68.70 per barrel after easing 1.1% in the previous session ** Ten-year U.S. Treasury yield at 4.3938%; two-year yield at 3.9296% ($1 = 86.4750 Indian rupees). (You can now subscribe to our ETMarkets WhatsApp channel)