EV scooter startup Simple Energy to invest $330 mn for new Tamil Nadu units

Simple Energy plans to invest as much as 25 billion rupees ($330 million) in new capacity to make electric scooters, with support from the government in Tamil Nadu

India’s Simple Energy plans to invest as much as 25 billion rupees ($330 million) in new capacity to make electric scooters, with support from the government in the southern state of Tamil Nadu.

The Bangalore-based company is constructing an initial facility an hour outside the city with the goal of starting operations in 2022 and the capacity to produce a million electric two-wheelers a year. It aims to open a second, larger plant in Dharmapuri in 2023, with capacity to make 12.5 million of such scooters annually.

The startup has raised $21 million so far and expects to close another