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Ultraviolette Automotive has raised USD 85 million in a funding round led by Yali Capital and TDK Ventures as it looks to scale up production of its existing and upcoming products and expand its presence in overseas markets, including the US in 2027, the electric two-wheeler maker announced on Wednesday. The Bengaluru-based company, which currently sells its products in India and 20 European countries, said international sales account for around 15 per cent of its overall volumes and are expected to rise to 25 per cent as it scales its global operations. The fresh capital will be deployed towards scaling manufacturing of its existing F77 and X-47 models, as well as upcoming products Tesseract and Shockwave, Ultraviolette CEO and co-founder Narayan Subramanian told PTI. "This is a growth-stage investment, and the capital will be deployed across multiple areas that will support the next phase of the company's expansion. "This includes scaling production for our current products F77 a
Robust festive demand aided by price cuts owing to GST rate rejig led to record passenger vehicle, two and three-wheeler dispatches from companies to dealers in October, industry body SIAM said on Friday. Total passenger vehicle wholesales in October rose to 4,60,739 units, an increase of 17 per cent compared with 3,93,238 units in October last year. Similarly, two-wheeler sales rose to 22,10,727 units during the month, an increase of 2 per cent against 21,64,276 units in the year-ago period, the Society of Indian Automobile Manufacturers (SIAM) said in a statement. Scooter sales were up 14 per cent year-on-year at 8,24,003 units last month as compared with 7,21,200 units in October 2024. Motorcycle dispatches, however, declined 4 per cent year-on-year to 13,35,468 units in October. Three-wheeler dispatches rose 6 per cent year-on-year to 81,288 units in October. "Passenger vehicles, two and three-wheeler segments posted their highest ever dispatches to dealers in October, primar