Simple Energy EV will invest Rs. 2,500 crores to construct the largest electric two-wheeler plant in Dharmapuri, Tamil Nadu. – EQ Mag Pro
The first plant is under construction with annual capacity of 1 million units. The company will invest Rs. 2,500 crore to build the second plant.
Simple Energy, an electric vehicle start-up based in Bengaluru, has signed a Memorandum of Understanding (MoU) with the Tamil Nadu government for an investment of ₹ 2,500 crore for constructing the largest electric two-wheeler plant in Dharmapuri. In Phase 1 of the company’s manufacturing operations, the first plant, with an area of 2,00,000 square feet, is being constructed near Shoolagiiri (Hosur) and has an annual production capacity of upto 1 million (10 lakh) units. This first plant will be operational by early 2022, the company said in a statement. This first plant will produce the Simple One electric scooter and begin deliveries.
Upon successfully completing its signing agreement with The Tamil Nadu Government, Suhas Rajkumar, Founder and CEO of Simple Energy, said “Tamil Nadu gave us the confidence in creating the EV ecosystem which can be sustainable in achieving our long-term goals. With the MoU, we commit to leading the Indian electric two-wheeler market in India by setting up a resourceful ecosystem that will help the country’s vision to lower carbon footprints at a faster pace. Simple Energy will thus redefine electric mobility in India.”
According to the terms of the MoU signed with the Tamil Nadu state government, the company will make an initial investment of ₹ 1,000 crore to build its second plant (as part of Phase 2) in 600 acres of land. The second factory is slated to be opened by 2023. Simple Energy intends to build an EV ecosystem in the state, and the second factory will also have a future-ready R&D centre, world-class testing facility, as well as a vendor park n accordance with the Build In India initiative.
The manufacturing facilities will not just be for the Indian market, but also for exports, the company said in a statement. According to the company, Simple Energy aims at reducing dependence on imports, and increase focus on localisation of parts. Once completed, the Simple Energy facility spread out over 600 acres is expected to be bigger than Ola Electric’s Futurefactory, which is spread out in an area of 500 acres.
Source : carandbike
