New Delhi : Ultraviolette Automotive Pvt. Ltd. will launch its electric two-wheeler Ultraviolette F77 on November 24. The corporate opened its pre-orders on October 23 and can roll out the product in a phased method, with the primary batch of motorcycles being delivered in Bengaluru. F77 has an IDC vary of 307 km on a single cost, the corporate stated in a media launch.
Ultraviolette, an innovator in sustainable mobility, has obtained investments from Qualcomm Ventures and Lingotto to develop the Collection D spherical. These investments from Qualcomm Ventures and Lingotto will probably be deployed for ramping up the corporate’s presence in India, subsequent expansion in worldwide markets, and strengthening of the model’s technological capabilities and prowess. the discharge stated.
Qualcomm Ventures invests in firms targeted on 5G, Synthetic Intelligence, Automotive, IoT, Enterprise and Cloud, and XR/Metaverse. Qualcomm Ventures has over 150 firms in its portfolio and manages over USD 2 billion in belongings throughout the US, China, India, Israel, Europe, Latin America, and Korea.
Lingotto (previously Exor Capital) is a fully-owned subsidiary of EXOR N.V which has the most important or controlling stakes in firms together with sports car maker Ferrari (RACE.MI), Stellantis (STLA.MI) CNH Industrial (CNHI.MI), Iveco Group (IVG.MI), The Economist Group, Through, and the soccer staff Juventus (JUVE.MI).
Narayan Subramaniam, co-founder and CEO, Ultraviolette, stated, “As we countdown to the business launch of the F77 in India, this funding is a testomony to the truth that we’ve been in a position to create a definite identification for Ultraviolette and the F77 and construct aspiration for the product throughout the worldwide audiences. We’re thrilled to have Qualcomm Ventures and Lingotto again us in our imaginative and prescient of redefining the way forward for electrical mobility and making F77 a worldwide phenomenon.”
“Qualcomm Ventures is proud to assist Ultraviolette, which is dedicated to elevating the bar on efficiency and security requirements of electrical two-wheelers with best-in-class applied sciences, design and engineering,” Quinn Li, Senior Vice President, Qualcomm Applied sciences, Inc. and world head of Qualcomm Ventures, stated.
“We stay up for the acceleration of the transformation that’s already underway throughout the automotive business by enabling firms, corresponding to Ultraviolette, with not solely entry to capital but in addition the chance to probably leverage Qualcomm’s world class know-how improvements,” he added.
Nikhil Bawa Srinivasan, Managing Companion at Lingotto stated, “Our continued assist for Ultraviolette rests in our perception on what needs to be a market defining product.”
Niraj Rajmohan, Co-Founder and CTO, Ultraviolette, stated, “Whereas we give attention to business availability of the F77 in India, we’re additionally actively constructing the roadmap for our subsequent enlargement in worldwide markets, and this capital infusion will probably be integral in augmenting our efforts in a few of these markets.”