Electric two-wheeler maker Ultraviolette Automotive Pvt Ltd,will invest Rs 500 crore in the next three to five years to scale up business, including setting up of a new manufacturing unit and product development, according to top company officials.
The company, in which TVS Motor Company is an investor, is setting up its manufacturing and assembling facility near Electronics City, Bengaluru, from where it will start producing its high performance electric motorcycle - the F77 in the first quarter of 2022.
The production of its high performance electric motorcycle - the F77, will begin in Q1, 2022 and the first batch of motorcycles will be rolled out in the market in March, 2022.
Spread over 70,000 square feet, the facility located in the vicinity of Electronics City, will manufacture 15,000 electric motorcycles in the first year, and will rapidly scale up to an annual capacity of 120,000 units.
"What is planned is about Rs 500 crore over the next three to five years," Ultraviolette Founder and CEO Narayan Subramaniam told PTI when asked about the company's investment plans. "The facility is spread over 70,000 square feet, he said adding, "If required, we can expand further."
Elaborating further, Ultraviolette Founder and CTO Niraj Rajmohan said, "The investment is more from an ultraviolet scaling up perspective."
Ultraviolette will also provide job opportunities to local communities within the region, with over 500 employees being trained on electric vehicle manufacturing and assembly over the next 5 years.
Speaking about the facility, Subramaniam said, “We chose this location given its strategic proximity to our R&D facility in Bengaluru as well as a strong supply-chain ecosystem in and around the region. We have received an overwhelming response for the F77 and this facility will help us cater to that demand over the next few years. Most importantly, the F77 has been designed and built indigenously and over 90% of the vehicle including the battery packs, will be manufactured using locally sourced components.”
F77 high-tech motorcycle
The F77 is a high-tech, high-performance motorcycle built with principles used in the aviation industry. With an acceleration of 0-60 in 2.9 seconds, top speed of 140 kmph, and a range of 150 km on a single charge, the F77 is a smart and connected electric motorcycle that comes with remote diagnostics over-the-air (OTA) upgrades, regenerative braking, multiple ride modes, bike tracking, ride diagnostics and whole lot of other features.
Rajmohan said, “Our new production unit is a state-of-the-art facility that will be equipped with smart technologies and industry 4.0 solutions. All processes within the unit will be driven by data in order to ensure seamless integration across the entire manufacturing lifecycle thereby increasing efficiencies and production output. Additionally, we will deploy sustainable manufacturing practices such as using renewable sources of energy, recycling of e-waste and ensuring zero affluents that will help in significantly reducing the impact on the environment.”
Ultraviolette has received over 40,000 booking interests for the F77 from customers in India and International markets. The company will begin pre-orders for the motorcycle later this year, it said in a press release.
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