Bangalore-based Simple Energy, a manufacturer of electric two-wheelers, will launch its first flagship electric scooter, the Simple One, on August 15. It will invest ₹350 crore over the next two years to increase its footprint across the country.
The company said it will set up a production plant at Hosur, Tamil Nadu. The company aims to start production later this year.
The first phase of the factory is spread across 2 lakh sq ft and will have a production capacity of up to 1 million units annually. The company will also provide at least 1,000 jobs, to begin with, thus promoting the Make In India initiative.
Suhas Rajkumar, Founder, and CEO of Simple Energy, said, “this is a huge milestone for Simple Energy. Although we aim to lead electric mobility in the country, we will now be able to cater to a larger audience faster than ever. We look forward to the launch on 15th August to embark on this remarkable initiative.”