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TDK backs Ultraviolette with $21M to take India-made electric motorcycles global
Ultraviolette aims to expand its electric motorcycles to 40 European countries, as well as Latin America and Southeast Asia.
Behind Ultraviolette are two childhood friends — CEO Narayan Subramaniam and CTO Niraj Rajmohan — who combined their expertise in mechanical engineering, automotive design, computer science, and electronics to electrify the mid-segment two-wheeler market. Expanding beyond India makes strategic sense for Ultraviolette, given the domestic EV market remains relatively underpenetrated — with adoption at just 7.66%, compared to the global average of 16.48%, according to a recent report by government-backed think tank NITI Aayog. EV penetration Rate — Global and India Image Credits: NITI AayogIndia is also a price-sensitive market, where two-wheelers are typically not discretionary purchases, but essential and affordable modes of daily transportation.
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