Ultraviolette CEO Narayan Subramaniam Eyes Tech Licensing, Draws Interest from EV Makers, Space Tech; Rivian, Lucid Follow Similar Path
Indian electric vehicle startup Ultraviolette Automotive is considering licensing its proprietary battery technology as a potential new revenue stream, even as it expands its premium electric motorcycle portfolio.
EV startups often face heavy cash burn due to factory build-outs and the high cost of batteries and components. According to industry experts, licensing technology could provide additional capital, enabling startups to scale manufacturing and diversify product lines while maintaining financial flexibility.
Ultraviolette CEO Narayan Subramaniam told Reuters, “A little down the line, we should probably look at other revenue streams from offshoots from the technology side.” He revealed that the company has received interest from EV manufacturers, space-tech firms, and even performance hydroplane makers. However, he emphasized that Ultraviolette’s current focus remains on strengthening its presence and product portfolio.
Balancing Core Focus with New Opportunities
Industry experts caution that pursuing new business models could divert focus from scaling EV sales and manufacturing, which remains critical for startups still carving out market share. Notably, U.S.-based EV firms like Rivian and Lucid have also turned to technology licensing and supply deals to offset the capital-intensive nature of their operations.
X47 Launch Targets Wider Market
On Tuesday, the Bengaluru-based startup launched the Ultraviolette X47 electric motorcycle, a model designed to attract a broader consumer base and support expansion in India and Europe. Positioned at the premium end of the market, Ultraviolette competes with domestic rivals such as Ather Energy and Ola Electric, appealing to buyers seeking performance-oriented models with advanced features.
In contrast, Ather CEO Tarun Mehta recently confirmed that his company has no plans to license its technology, highlighting different strategic approaches within the Indian EV sector.
Strong Investor Backing
Ultraviolette continues to draw investor confidence, having raised $21 million last month in a funding round led by Japan’s TDK Ventures, with participation from Zoho Corporation and Lingotto.With its focus on premium e-motorcycles and potential tech licensing opportunities, Ultraviolette is positioning itself as both a product innovator and technology enabler in India’s fast-growing EV landscape.
