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India Scooter Startup to Invest Up to $330 Million in New Plants

  • Second facility could make 12.5 million scooters a year
  • Simple Energy plans to raise “three-digit” millions in funding
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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.