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

Currently, Ultraviolette is present in six Indian cities including Pune, Kochi, Hyderabad, Ahmedabad, Vizag and Bengaluru. The company intends to expand into regions where demand for sport motorcycles is strong, focusing on eastern cities and major state capitals. The new stores will include a mix of company-owned and franchise-operated experience centers.

Narayan Subramaniam, co-founder and CEO of the start-up describes this expansion as a natural progression of its growth, saying: “We have a compelling product developed over seven years of R&D, and now we have perfected the sales and the after-sales service. model that we aim to deploy across the country and around the world. “The start-up has invested nearly ₹400 crore in the business so far, with 60-70 per cent allocated to R&D over the last seven years, Subramaniam said. sector of activity.

Earlier this month, Ultraviolette expanded into the international market by launching its UV Space Pod experience center in Kathmandu, Nepal, and onboarded distributors in Turkey, Germany, Austria and Switzerland. “By November, we plan to officially begin our international expansion. The last year has been dedicated to establishing processes and obtaining certifications to ensure our products and production meet international standards,” he said.

Additionally, the company aims to achieve operational breakeven by the second half of next year. Currently, it is profitable at the gross margin level, Subramaniam noted. He added: “In terms of sales, we have been delivering around 100 vehicles per month, and we are currently increasing this figure. We should deliver around a thousand vehicles in the coming weeks. »

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