Simple Energy’s new plant to beat Ola Electric: Rs 2,500 cr investment over five years
newsonsight
3 min read
Bengaluru-primarily based totally EV start-up, Simple Energy, these days released its first electric powered scooter in India referred to as Simple One. With a claimed variety of 236 km in ‘ideal’ conditions, the brand new Simple One electric powered scooter is touted to be the world’s longest-variety electric powered scooter. Now, the employer has nowadays introduced that they have got signed a Memorandum of Understanding (MoU) with the Tamil Nadu Government for building the world’s biggest electric powered two-wheeler plant in Dharmapuri, Tamil Nadu.
According to Simple Energy, they may be making an investment Rs 2,500 crore over the following five years. As a part of section one, the primary plant of two lakh rectangular ft is being built close to Shoolagiri (Hosur) and it’ll have an annual manufacturing ability of upto 1 million. It is slated to be operational through early subsequent year. This plant will placed the employer’s flagship electric powered scooter ‘Simple One’ into manufacturing and start deliveries, the employer stated in its press statement.
As in keeping with the MoU signed, Simple Energy will make an preliminary funding of Rs 1,000 crores to construct its 2d plant (as a part of section two) in six hundred acres of land and that they intend to open the second one manufacturing facility through 2023. It is really well worth citing that Simple Energy’s new six hundred-acre plant might be larger than Ola Electric’s 500-acre mega manufacturing facility, that is placed withinside the Krishnagiri district of Tamil Nadu. The EV start-up says that through making an investment withinside the 2d plant, they purpose to construct an EV environment withinside the country that could actually have a future-geared up R&D centre, world-magnificence checking out facility, and a dealer park according with the make in India initiative.
Upon efficaciously finishing its signing settlement with The Tamil Nadu Government, Suhas Rajkumar, Founder and CEO of Simple Energy, stated “Tamil Nadu gave us the self assurance in developing the EV environment which may be sustainable in accomplishing our long-time period goals. With the MoU, we decide to main the Indian E2W marketplace in India through putting in a innovative environment on the way to assist the country’s imaginative and prescient to decrease carbon footprints at a quicker pace. Simple Energy will therefore redefine electric powered mobility in India.”
Pooja Kulkarni IAS, MD & CEO – Guidance, Tamil Nadu stated, “The electric powered car enterprise is developing in reputation for the duration of the world. The MoU with Simple Energy is to create a facility on the way to develop and deepen the E2W marketplace. We wish that the partnership with Tamil Nadu will assist them turn out to be a international player, reaping rewards the neighborhood environment.” According to Simple Energy, with the declaration of this MoU, the EV maker desires to spend money on world-magnificence manufacturing abilities now no longer only for the Indian marketplace, however additionally for exports to in the end create extra than 12,000 direct and oblique jobs.
