EV firm iVOOMi Energy to invest Rs 200 crore in new manufacturing unit, research and development
EV company iVOOMi Energy on Monday announced to invest Rs 200 crore towards setting up a brand new manufacturing facility in Pune, along with creating more than 2,000 jobs and ramping up its research and development (R&D) efforts.
The new facility will be a fully-integrated electric two-wheeler plant that will be operational from March 2023, the company said in a statement.
The investment is expected to increase the facility’s production capability by 60,000 plus units, taking the production number from 1,80,000 units a year to 2,40,000 units a year.
The company aims to roll out more than 2,00,000 units by the end of FY 2023.
“We feel there is a large scope for development and innovation to be made in the space and iVOOMi Energy is continuously striving to set a benchmark in the industry,” said Ashwin Bhandari, CEO and Co-founder, iVOOMi.
