Bengaluru-based EV start-up Simple Energy has raised more than $20 million (Rs 165 crore) in the latest round of funding. This funding will be used for ramping up the production of its upcoming electric scooter.
Diving into details, Simple Energy recently inaugurated its state-of-the-art manufacturing facility in Shoolagiri, Tamilnadu and commenced the production of its first electric scooter, Simple One. Apart from that, the company has already received more than 1 lakh bookings for the Simple One electric scooter.
Speaking about Simple Energy’s manufacturing facility in Shoolagiri is spread over an area of 2,00,000 sq.ft and has been named ‘Simple Vision 1.0’. According to Simple Energy, Simple Vision 1.0 is equipped with the best-in-class GA Line (General Assembly Line), India’s first patented in-house motor manufacturing line, CAL (Customer Acceptance Line), a battery manufacturing line along with other facilities like cell storage, and a few more supporting facilities.
Furthermore, Simple Energy says that the Simple Vision 1.0 EV manufacturing facility is built with an initial investment of Rs 100 Crore and the plant also aims to provide employment to more than 700 people locally and is aiming to have a female-dominated workforce.
Speaking about Simple One, Simple Energy claims its latest iteration can do more than 200 kilometres on a fully charged battery pack charge. Additionally, the latest version of the electric scooter also comes with a more powerful 8.5kW electric motor with 72Nm of peak torque and a larger 4.8kWh battery pack.
In terms of performance, the upcoming Simple One electric scooter is said to have a top speed of around 105km/h and can accelerate from a standstill to 40km/h in just 2.77 seconds. Other than that, the pre-bookings for the Simple One electric scooter are already open and the electric scooter is expected to come with a starting price of around Rs 1.05 lakh (ex-showroom).
Thoughts About Simple Energy’s Latest Investment
With the state-of-the-art manufacturing plant in Tamilnadu, Simple Energy is expected to soon launch and commence the production of the Simple One electric scooters in India. Furthermore, the latest round of funding will help the EV maker further ramp up the production at its facility.
Keyword: Simple Energy Raises $20 Million – Bags More Than 1 Lakh Bookings