The company announced it will set up a BIGGA (Big Global Ambition) Factory, a new state-of-the-art manufacturing facility in Hosur, Tamil Nadu. This came after the company exchanged a memorandum of understanding at the TVK government’s first investment conclave in August.
It plans to invest Rs 779 crore and create 4000 jobs. The BIGGA Factory will ramp up to an annual manufacturing capacity of 250,000 vehicles in a phased manner, with infrastructure designed to scale production to 500,000 vehicles per annum as demand grows. The facility will manufacture Ultraviolette’s highly anticipated Tesseract electric scooter and provide the capacity and scale to support the company’s future product portfolio across multiple segments, including sports, crossover, cruiser, street and scooters. The facility will be addition to the company’s existing manufacturing facility in Bengaluru. The Government of Tamil Nadu will facilitate the allotment of land in Hosur at SIPCOT Industrial Park, Shoolagiri. This makes the state, home to yet another electric vehicle manufacturer after companies like Ola and Ather. The BIGGA Factory is strategically located within one of India’s established automotive manufacturing ecosystems, with proximity to Bengaluru, Ultraviolette’s R&D operations and its wider supplier network. Further to fund the expansion, Ultraviolette raised USD 85 million, led by Deep Tech Fund, Yali Capital and existing investor TDK Ventures and investment from LipBu Tan, Chairman of Walden International and Advisor to Ultraviolette.
This investment will also support the development of Ultraviolette’s next generation of global EV platforms. The company is also backed by investors including Lingotto, Qualcomm Ventures, TVS Motors and Speciale Invest. The company currently retails in India and 20 European countries and plans to enter the US market in 2027.