Mumbai: The TVS Motor and Qualcomm Ventures-backed electric two-wheeler startup Ultraviolette Automotive expects electric motorcycles to account for as much as 20% of India's motorcycle market in the next two to three years, as factors that drove the rapid adoption of electric scooters begin to play out in motorcycles, said co-founder and CEO Narayan Subramaniam.

Encouraged by the response to its F77 sports motorcycle and X47 crossover, the Bengaluru-based manufacturer is preparing for a sharp increase in volumes, with a new manufacturing facility in Tamil Nadu and plans to invest ₹779 crore over the next five years.

The first phase of the plant near Hosur will have capacity for 250,000 units annually, and can eventually be expanded to 500,000 units. Combined with its existing facility, which can produce about 50,000-60,000 units annually, Ultraviolette expects to have capacity for around 300,000 units within the next two to three years and is targeting 500,000 units over five years.

ET Bureau

Electric motorcycles currently account for only about 1% of the overall motorcycle market, but adoption is expected to accelerate as more manufacturers enter the segment, offering consumers greater choice, while fuel prices, regulation and the economics of electric vehicles increasingly support the shift. Over 4.3 million motorcycles were sold in the domestic market in the first four months of 2026-27, according to the Society of Indian Automobile Manufacturers (Siam).

"What happened with scooters is now starting to happen with motorcycles," Subramaniam said. "It's only a matter of two to three years from now," he said, referring to the potential for electric motorcycles to reach a 20% share.

Subramaniam said the company is well capitalised for the planned investment. TVS Motor holds 26% in the company, while other investors include Lingotto, TDK Ventures, Qualcomm Ventures, Zoho Corporation and Speciale Invest.

The expansion comes as Ultraviolette broadens its portfolio beyond the F77 and X47. The Shockwave motorcycle and Tesseract electric scooter are due shortly, followed by two more products, taking the portfolio to six models within two years, said Niraj Rajmohan, co-founder and CTO.

The upcoming products will be priced below ₹2 lakh, making them more accessible than its existing offerings. The company currently produces about 600-700 vehicles a month and expects to reach around 1,000 units a month over the next few months. It expects demand to rise to at least 10,000 units a month with the new products.

Ultraviolette plans to focus equally on motorcycles and scooters at scale, with each expected to contribute about half of volumes. It is already present in 20 European countries and plans to enter North America and Latin America initially through distributors.