Electric vehicle maker Ultra Motor to double production in India

20 March 2009

Close on the heels of a successful 2007-08 and buoyed by the ready acceptance of electric two-wheeler vehicles in India, UK-based Ultra Motor Company has decided to rapidly scale its operations, expand outreach and enhance product portfolio independently.

Ultra Motor is planning to to set up an assembly unit in the national capital region (NCR) of India and is targeting an over two-fold increase in sales in the coming fiscal.

The company, which has a technical collaboration-cum-joint marketing agreement with Hero Exports to produce and jointly market electric two-wheelers in India, now proposed to disengage from the tie-up.

Ultra Motor reorganised its management team in India and unveiled plans to launch as many as six products and also increase its dealer network to 300 from the existing 170, in the new fiscal.

"Electric vehicles category is becoming more and more important globally and it will substantially grow in India as well. We are planning to sell 55,000 units in India in 2009-10," Ultra Motor chairman and CEO Joe Santana said.

As a result of the aggressive retail expansion and marketing efforts in the last financial year, Ultra Motor (in partnership with Hero Exports) has already touched 22,000 units in sales across India against a target of 20,000 units.