Simple Energy to set up Rs 2,500-cr electric vehicle facility in Tamil Nadu

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Electric two-wheeler maker Simple Energy on Wednesday said it will invest up to ~2,500 crore over the next five years to set up an electric vehicle manufacturing facility in Tamil Nadu. The proposed facility, spread across 600 acres, will be the company's second such production unit and is expected to be functional by 2023, the Bengaluru-based company said in a release.

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,” said Suhas Rajkumar, founder and CEO of Simple Energy.

The EV maker’s first manufacturing unit with a capacity to produce one million units a year, spread across 200,000 square feet is being constructed near Shoolagiri (Hosur).     

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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