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It was preserved as a record on October 26; the timeline below shows how it unfolded, with sources. Get the briefing to follow the top situations still developing: three emails a week, sourced and in order.

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3 clusters · 14 sources · 15 days · First seen · Last updated

Ultraviolette Automotive manufacturing and global expansion

Overview

Ultraviolette Automotive, an electric vehicle manufacturer based in Bengaluru, has announced significant expansion plans involving both infrastructure investment and new capital acquisition.

Initially, the company detailed an investment of up to Rs 1,000 crore over five years. This includes Rs 800 crore for a new manufacturing facility in Shoolagiri, Tamil Nadu, and Rs 200 crore to upgrade its Bengaluru facility. The expansion aims to increase production capacity to a long-term target of 500,000 units annually and facilitate a transition toward mass-market products, such as the Tesseract scooter and Shockwave motorcycle.

Following these plans, Ultraviolette secured $85 million in a funding round led by Yali Capital and TDK Ventures. Lip-Bu Tan, chairman of Walden International, also invested in his personal capacity and will join the company as an advisor. This capital is intended to scale production of the F77 and X-47 Crossover electric two-wheelers, support the launch of upcoming models, and develop next-generation EV platforms featuring vertically integrated battery technology, power electronics, and intelligent software.

Currently operating in India and 20 European countries, the company is pursuing international growth, targeting entry into the United States market by 2027, alongside expansion in Latin America and South-East Asia.

Entities

Ultraviolette · Lip-Bu Tan · TDK Ventures · Walden International · Yali Capital

Timeline

  1. [BUSINESS] 6 sources
    Ultraviolette raises $85 million to expand EV production and enter U.S. market

    Bengaluru-based EV firm Ultraviolette has raised $85 million led by Yali Capital and TDK Ventures to scale production and expand into the U.S. market by 2027.

  2. [BUSINESS] 2 sources
    Ultraviolette raises $85 million to scale EV manufacturing and expand globally

    Ultraviolette has raised $85 million led by Yali Capital and TDK Ventures to scale manufacturing, launch new electric scooter and motorcycle models, and target a US market entry by 2027.

  3. [BUSINESS] 7 sources
    Ultraviolette Automotive to invest up to Rs 1,000 crore in new Tamil Nadu EV plant

    Ultraviolette Automotive will invest up to Rs 1,000 crore over five years to build a new EV plant in Tamil Nadu, targeting a production capacity of 500,000 units and entry into the mass market.

Sources

autopunditz.com · bikeadvice.in · ciol.com · equitypandit.com · evtechnews.in · latestly.com · mercomindia.com · newindianexpress.com · news9live.com · pulse2.com · thepack.news · travel2films.com · tripurastarnews.com · uniquetimes.org

This summary has been updated 1 time: see revision history