Simple Energy has signed an MoU with the Tamil Nadu govt. with investments worth up to Rs. 2500 crores.
One of Indias top EV manufacturers, Simple Energy has signed a Memorandum of Understanding (MoU) with the Tamil Nadu Government for investment worth up to Rs. 2500 crores. With this, Simple Energy will build two manufacturing plants in the state in two phases. Their first plant will be built in Shoolagiri (Hosur) and it will be operational by mid-2022. The second plant will be complete by 2023.
On the occasion of this successful sign, Mr. Suhas Rajkumar, founder, and CEO of Simple Energy has said, Tamil Nadu gave us the confidence in creating the EV ecosystem which can be sustainable in achieving our long-term goals. With the MoU, we commit to leading the Indian E2W market in India by setting up a resourceful ecosystem that will help the countrys vision to lower carbon footprints at a faster pace. Simple Energy will thus redefine electric mobility in India."
Also Read: New Bajaj E-scooter Spied, To Be Cheaper than e-Chetak
As per the MoU, Simple Energy will make an initial investment of Rs. 1000 crore that will go into the construction of the second plant. This will establish their intention to set up a successful EV ecosystem. The second plant will boast of a future-ready R& D center, vendor park, and world-class testing facility, as per the ordinance of the Build in India initiative.
Speaking on behalf of the Tamil Nadu government, IAS, MD & CEO Guidance, Mrs. Pooja Kulkarni has expressed, The electric vehicle industry is growing in popularity throughout the world. The MoU with Simple Energy is to create a facility that will broaden and deepen the E2W market. We hope that the partnership with Tamil Nadu will help them become a global player, benefiting the local ecosystem.
Also Read: Simple Energy One Electric Scooter Launched in India - Check Out The Price, Specs and Other Details
Simple Energy also has investment from UK Battery maker, British Volt. Its investor Mr. Raghunath Subrmanian was also present. He said, Simple Energy has taken a big step in taking the Indian EV industry forward. With this step, we hope to amplify the country's efforts to promote the tech and auto industries to a global level and compete with global legacy players.
Also Read: Ola E-Scooter Vs Simple One: Range, Price, Top Speed Comparison
Simple Energy currently has the Simple One scooter in production, which they launched this year in August. The scooter has the longest range of 203 km which makes it a solid alternative to ICE vehicles. The new MoU will see that production will ramp up, so that future demands are met easily.
Can you name some of the best electric scooters in India? For more information, join our 91Wheels Telegram and 91Wheels Whatsapp group to know more about vehicles, conduct discussions on your favourite ride and much more! Also, you can subscribe to our Youtube channel for video content on the latest from the world of cars and motorcycles.
