Ultraviolette (UV), an electric vehicle platform and battery technology company, plans to expand its store footprint to six cities in India, including Chennai, Mumbai, Delhi, Mangaluru, Surat, and Coimbatore by the end of this year. This expansion is part of the EV start-up’s goal to reach 25 cities by March 2025.

Currently, Ultraviolette has a presence in six Indian cities which include, Pune, Kochi, Hyderabad, Ahmedabad, Vizag, and Bengaluru. The company intends to expand into regions with strong demand for sports motorcycles, focusing on cities in the East and key State capitals. The new stores will include a mix of company-owned and franchise-operated experience centres.

Narayan Subramaniam, Co-founder, CEO of the start-up describes this expansion as a natural progression in its growth, stating, “We have a compelling product developed over seven years of R&D, and now we have perfected the sales and after-sales model that we aim to roll out across the country and globally .”The start-up has invested nearly ₹400 crore in the company so far, with 60-70 percent allocated to R&D over the past seven years, Subramaniam told businessline.

Earlier this month, Ultraviolette expanded into the international market by launching its UV Space Pod Experience Centre in Kathmandu, Nepal, and has onboarded distributors in Turkey, Germany, Austria, and Switzerland. “By November, we expect to begin our international expansion formally. Last year was dedicated to establishing processes and obtaining certifications to ensure our products and production meet international standards,” he said.

Furthermore, the company aims to achieve operational breakeven by the second half of next year. Currently, it is profitable at the gross margin level, noted Subramaniam. He added, “In terms of sales, we have delivered about 100 vehicles monthly, and we are now ramping that up. We should be delivering around a thousand vehicles in the coming weeks.”

“With our expansion into 12 more cities, we expect those numbers to multiply. By the end of this financial year, we aim to be delivering around a thousand vehicles per month. For international markets, we are piloting in Europe this year, with a full expansion planned for 2025,” he added.

Related Topics