Simple Energy to Set up Rs 45-cr Facility

THIS NEW START-UP IS SLATED TO BE ONE OF the biggest rivals of the famed Ather Energy, claiming to be peppier than the 450X and promising an ARAI-certified range of over 230 km. Mid-last year, Simple Energy had shared the specs of their model, the Mark 2, and now the firm has revealed that it plans to launch the e-scooter in the Indian market by May this year.

In a statement, the start-up revealed its plan to invest Rs 45 crore to set up a manufacturing facility near Hosur with a production capacity of 50,000 units per annum. Simple Energy says that Mark 2 will be produced with a localisation level of up to 85 per cent, aiming to meet its price target of about Rs 1.1 lakh, undercutting the Ather 450X which costs Rs 1.47 lakh.