Ultraviolette secures $85 million to build Hosur plant and lift EV output

Ultraviolette has secured $85 million in a fresh funding round to fund a new manufacturing plant in Hosur, Karnataka, that will raise annual output to up to 5 lakh two‑wheelers. The capital boost comes from deep‑tech investors Yali Capital and TDK Ventures, with Intel CEO Lip‑Bu Tan joining as a strategic backer alongside existing supporters. The money will be used to scale production of the company’s current models – the F77 (Mach 2 and Superstreet versions) and the X‑47 – and to develop next‑generation platforms. Ultraviolette already builds battery packs ranging from 48 V to 400 V, a capability it says lets it design vehicles for varied performance needs. The firm operates in India and 20 European markets, including Germany, France, Spain, Portugal, the UK, Belgium, the Netherlands, Italy, Switzerland and Hungary. With the new fund, Ultraviolette plans to enter the United States next year and also target key markets in Latin America and Southeast Asia. Current investors such as Zoho Corporation, TVS Motor and Qualcomm Ventures will continue to support the expansion. The Hosur facility is expected to start production later this year, helping the company meet rising demand for high‑performance electric bikes both at home and abroad.