CHENNAI: Bengaluru-headquartered electric two-wheeler startup Simple Energy has signed a memorandum of understanding (MoU) with the Tamil Nadu government for an investment of up to Rs 2,500 crore for an electric two-wheeler factory in Hosur which, at peak capacity, will crank out more than 12 million units.
In an exclusive chat with TOI, Suhas Rajkumar, founder-CEO of Simple Energy said the company would invest Rs 1,000 crore in phase 1 over the next 2 years constructing the plant which will have a capacity to produce one 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 building of the second plant spread over 600 acre.
