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Business News/ Companies / News/  Simple Energy to invest 2,500 crore for e-scooter plant in Tamil Nadu
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Simple Energy to invest ₹2,500 crore for e-scooter plant in Tamil Nadu

The first plant of 2 lakh square feet is being constructed near Shoolagiri (Hosur) with a capacity of up to 1 million production units per year and is slated to be operational by early 2022

In the second phase, Simple Energy plans to make an initial investment of ₹1,000 crore to build its second plant in 600 acres of land and intends to open the second factory by 2023.Premium
In the second phase, Simple Energy plans to make an initial investment of 1,000 crore to build its second plant in 600 acres of land and intends to open the second factory by 2023.

Simple Energy, a manufacturer of electric scooters, has signed a deal with the Tamil Nadu government to invest up to 2,500 crore to build the largest electric two-wheeler plant in Dharmapuri – a city in the western part of the state.

The first plant of 2 lakh square feet is being constructed near Shoolagiri (Hosur) with a capacity of up to 1 million production units per year and is slated to be operational by early 2022. This would put the flagship scooter ‘Simple One’ into production and begin deliveries, the company said in a statement on Wednesday.

In the second phase, the company plans to make an initial investment of 1,000 crore to build its second plant in 600 acres of land and intends to open the second factory by 2023.

Suhas Rajkumar, founder and CEO of Simple Energy, 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 country’s vision to lower carbon footprints at a faster pace. Simple Energy will thus redefine electric mobility in India."

Pooja Kulkarni IAS, MD and CEO of Guidance, Tamil Nadu, hoped that the partnership with the Tamil Nadu government would help them "become a global player, benefiting the local ecosystem".

With the announcement of this agreement, Simple Energy plans to export EVs too and eventually create more than 12000 direct and indirect jobs. Simple Energy also aims at reducing dependence on imports, and increasing focus on localization of parts, the company said in its statement.

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Published: 08 Dec 2021, 05:27 PM IST
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