Ultraviolette to invest ₹779 crore in Tamil Nadu plant, targeting mass-market EV boom

Ultraviolette Automotive announced a ₹779 crore investment to construct a manufacturing complex in Hosur, Tamil Nadu, designed for an initial output of 250,000 electric two-wheelers annually, scalable to 500,000. Backed by Qualcomm and TVS Motor, the plant will augment its existing Bengaluru line that can build up to 50,000 units. The firm intends to introduce the Shockwave motorcycle priced under ₹2 lakh and the Tesseract scooter below ₹1.5 lakh, aiming for monthly domestic demand of at least 10,000 units, putting it in competition with larger players such as Ola Electric and Ather Energy.

Funding will come from internal reserves, equity and cash flow, with limited borrowing. Hosur was chosen for its proximity to the R&D centre and supply-chain access. Ultraviolette sold over 3,000 motorcycles globally in the first half of the year, with exports to Europe and Latin America making up about 15 % of sales, a share it hopes to raise to 25 % within five years.