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Ultraviolette Automotive to invest up to Rs 1,000 crore in new Tamil Nadu EV plant
Ultraviolette Automotive, a Bengaluru-based electric two-wheeler manufacturer, has announced a major investment plan of up to Rs 1,000 crore over the next five years to expand its production capabilities.
The investment includes approximately Rs 800 crore for a new manufacturing facility located at the SIPCOT Industrial Park in Shoolagiri, Tamil Nadu, and Rs 200 crore to upgrade the company's existing facility near Bengaluru. The new plant is expected to initially produce 250,000 electric vehicles annually, with a long-term target capacity of 500,000 units.
This expansion supports Ultraviolette's transition from premium models like the F77 and X47 toward the mass market. The company plans to introduce new products, including the Tesseract electric scooter, expected to be priced below Rs 1.5 lakh, and the Shockwave electric motorcycle, expected to cost less than Rs 2 lakh. The project is anticipated to create roughly 4,000 jobs.
Entities
Narayan Subramaniam · Niraj Rajmohan · Shoolagiri · Tamil Nadu · Ultraviolette Automotive
Claims
What the coverage asserts, and how many sources carry each claim.
- [○ 1 SOURCE] The Tesseract scooter is expected to be priced below Rs 1.5 lakh, and the Shockwave motorcycle is expected to cost less than Rs 2 lakh. www.equitypandit.com
- [● 3 SOURCES] Ultraviolette Automotive plans to invest between Rs 779 crore and Rs 1,000 crore over the next five years. www.equitypandit.com · uniquetimes.org · www.news9live.com
- [● 3 SOURCES] The new manufacturing facility in Tamil Nadu will initially have an annual capacity of 250,000 vehicles, with plans to expand to 500,000 units. www.equitypandit.com · uniquetimes.org · www.news9live.com
- [○ 1 SOURCE] The new plant will be located at the SIPCOT Industrial Park in Shoolagiri, Tamil Nadu. www.news9live.com
- [○ 1 SOURCE] Approximately Rs 200 crore of the total investment will be used to expand the company's existing manufacturing facility. www.news9live.com
- [● 2 SOURCES] Exports currently account for approximately 15% of the company's sales. www.equitypandit.com · uniquetimes.org
- [○ 1 SOURCE] The expansion project is expected to create approximately 4,000 jobs. www.equitypandit.com
- [● 3 SOURCES] The company plans to launch new models including the Tesseract electric scooter and the Shockwave electric motorcycle. www.equitypandit.com · uniquetimes.org · www.news9live.com