Bengaluru-based Simple Energy is yet to roll out its first scooter even after a like-to-like launch with Ola Electric same time last year will finally start deliveries of its Simple One by this September
Co-founder Suhas Rajkumar told EV Story that the firm is working on an affordable scooter that it plans to showcase very shortly. Rajkumar added that they are eyeing the motorcycle market too with an electric car also in the works
To fund its expansion plans the startup raised around Rs 170 crore last year and is planning to raise 100 million dollars in the near term. In the next 12-15 months the hunt for the next 500 million dollars will begin to fund the expansion of the product portfolio, dealers, sales, and service networks.
Simple Energy has signed an MoU with the Tamil Nadu government for an investment of up to Rs 2,500 crore for constructing the largest fund electric two-wheeler manufacturing plant in Dharmapuri in Karnataka.
As part of Phase 1, the first plant of 200,000 square feet is being constructed near Shoolagiri (Hosur) and has the capacity of up to a million units on an annual basis.
Rajkumar said the unique part of our plant is that Simple Energy will also invite our vendor partners to set up their shops inside the newer larger facility. "We are also talking to multiple cell manufacturers and we are open to joint R&D for our future designs"
The proposed plant will have around 1.5 lakh vehicles that can be made on a per annum per shift basis. This can be scaled to 3-3.5 lakh vehicles by multiple shifts