Simple Energy to invest Rs 2,500 cr in e-two wheeler factory in Hosur

Chennai: Electric two wheeler startup Simple Energy has signed a memorandum of understanding (MoU) with the Tamil Nadu government for an investment of upto Rs 2,500 crore for an electric two wheeler factory in Dharmapuri (Hosur) which, at peak capacity, will crank out more than 12 million units. In an exclusive chat with TOI, Suhas Rajkumar, founder-CEO, Simple Energy said the company will invest Rs 1,000 crore in phase 1 over the next 2 years constructing the plant which will have a capacity to produce 1 million two wheelers and employ 2,500 people directly and indirectly.
Phase 1 will see construction of the first plant spread over 200,000 sq ft near Shoolagiri (Hosur). Phase 2 will see the building of the second plant spread over 600 acre. “In the second phase we will invest the rest over five years and hit our maxed out capacity of 12.5 million units,” he added.