Simple Energy to invest $330 million in new Tamil Nadu Units

Indian startup and EV scooter maker Simple Energy is planning to invest in the new Tamil Nadu Units that will engage in the manufacturing of electric scooters. The investment can be as much as $330 million. The company is currently engaged in the construction of a facility that will start operations from next year with an aim to produce a million electric scooters in a year.

It is also planning to establish another plant in Dharmapuri in 2023. Simple Energy plans to have a full in-house production including battery pack and the motor. Ola Electric Mobility Pvt has also announced its plans for electric scooter manufacturing. The company has set the target of producing 10 million vehicles annually by 2022 but is facing issues due to the global chip shortage.

Simple Energy is planning the production of three different variants of electric scooters, including affordable and premium versions targeting global markets like Southeast Asia, the European Union, and Australia. The company is also facing challenges due to the chip shortage and has signed up agreements with multiple chipmakers to fulfill the chip supply.