Thu, 09 Dec 2021 02:54 PM IST
Bengaluru | Anirban Mitra: Simple Energy announced on Wednesday that they have signed a Memorandum of Understanding (MoU) with the Tamil Nadu government for investment up to Rs 2500 crore for constructing the electric two-wheeler plant in Dharmapuri.
As part of Phase 1, the first plant of 2 lakh square feet is being constructed near Shoolagiri (Hosur) and has the capacity of up to 1 million production units per year, and is slated to be operational by early 2022.
This would put the flagship scooter ‘Simple One’ into production and begin deliveries.
As per the MoU signed, the company shall make an initial investment of Rs 1000 crore to build its second plant (as part of Phase 2) in 600 acres of land and intends to open the second factory by 2023. By investing in the second plant, the company has established its intent to build an EV ecosystem in the state, that would also have a future-ready R&D center, world-class testing facility, a vendor park in accordance with the Build in India initiative.
Simple Energy’s flagship e-scooter Simple One launched in August 2021 has the longest range of 203km in eco mode and 236km in IDC in a single charge.
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 E2W 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."
Pooja Kulkarni IAS, MD & CEO- Guidance, Tamil Nadu said, "The electric vehicle industry is growing in popularity throughout the world. The MoU with Simple Energy is to create a facility that will broaden and deepen the E2W market. We hope that the partnership with Tamil Nadu will help them become a global player, benefiting the local ecosystem.
With the announcement of this MoU, the company would want to invest in world-class production capabilities not just for the Indian market, but also for exports to eventually create more than 12000 direct and indirect jobs for those in need.