EV scooter startup Simple Energy to invest up to $330 million in new plants
Bengaluru-based Simple Energy plans to invest as much as Rs 2,500 crore ($330 million) in new capacity to make electric scooters, with support from the government in the southern state of Tamil Nadu.
The company is constructing an initial facility an hour outside the city with the goal of starting operations in 2022 and the capacity to produce a million electric two-wheelers a year. It aims to open a second, larger plant in Dharmapuri in 2023, with a capacity to make 12.5 million of such scooters annually.
