Ultraviolette automotive to launch electric two-wheeler F77 on November 24
Delhi : On November 24, Ultraviolette Automotive Pvt. Ltd. will introduce the Ultraviolette F77, an electric two-wheeler. The business started taking pre-orders on October 23 and would release the product gradually, with the first shipment of motorcycles arriving in Bengaluru. According to a press release from the manufacturer, the F77 has an IDC range of 307 miles on a single charge.
The Series D round of funding for Ultraviolette, a pioneer in sustainable mobility, has been expanded thanks to investments from Qualcomm Ventures and Lingotto. The company will use these investments from Qualcomm Ventures and Lingotto to increase its footprint in India, expand laterally into other regions, and develop its technological capabilities and prowess. The release stated.
Qualcomm Ventures makes investments in businesses with a focus on 5G, AI, automotive, IoT, enterprise and cloud, as well as XR/Metaverse. In addition to managing assets worth over USD 2 billion spread across the US, China, India, Israel, Europe, Latin America, and Korea, Qualcomm Ventures has over 150 enterprises in its portfolio.
A wholly-owned subsidiary of EXOR N.V, Lingotto (formerly Exor Capital) holds the largest or controlling stakes in a number of businesses, including sports car manufacturer Ferrari (RACE.MI), Stellantis (STLA.MI), CNH Industrial (CNHI.MI), Iveco Group (IVG.MI), The Economist Group, Via, and football team Juventus (JUVE.MI).
As we approach the commercial launch of the F77 in India, said Narayan Subramaniam, co-founder and CEO of Ultraviolette, "This investment is a testament to the fact that we have been able to forge a distinctive identity for Ultraviolette and the F77 and foster aspiration for the product among global audiences. We are honoured to have the support of Qualcomm Ventures and Lingotto in our mission to redefine the future of electric transportation and establish F77 as a worldwide phenomenon.
Quinn Li, Senior Vice President of Qualcomm Technologies, Inc. and Global Head of Qualcomm Ventures, said the company is proud to support Ultraviolette, which is dedicated to raising the bar on performance and safety standards of electric two-wheelers with best-in-class technologies, design, and engineering. By giving businesses like Ultraviolette access to finance as well as the chance to use Qualcomm's top-notch technological advancements, he continued, we anticipate the change that is already under way in the automotive industry accelerating.
We will continue to support Ultraviolette because we believe it should be a market-defining product, according to Nikhil Bawa Srinivasan, managing partner at Lingotto. While we concentrate on the commercial availability of the F77 in India, we are also actively developing the roadmap for our ensuing expansion in international markets, and this capital infusion will be crucial in enhancing our efforts in some of these markets, according to Niraj Rajmohan, Co-Founder and CTO of Ultraviolette.
