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Simple Energy launches electric scooter Simple ONE, plans to invest $100 mn

Electric two-wheeler startup Simple Energy on Tuesday officially launched its maiden electric scooter, Simple ONE, at a starting price of Rs 1.45 lakh (ex-showroom Bengaluru), almost 21 months after its unveiling.

However, the model with a 750W charger will be available at a price of Rs 1.58 lakh, the company announced at the launch.

The company had unveiled the vehicle globally on August 15, 2021 with a price tag of Rs 1.10 lakh.

The deliveries of the electric scooter to customers will start in a phased manner from June 6, with Bengaluru as the first city, Simple Energy Founder and Chief Executive Officer, Suhas Rajkumar announced at the launch.

He said the company plans to invest USD 100-million in the next 12-18 months to expand the footprint in India and increase its capacity amid an uptick in demand.

Simple Energy has already invested Rs 110 crore in setting up a manufacturing facility at Shoolagiri.

Rajkumar also said that the company has received around 1-lakh pre-bookings for its maiden vehicle and he does not anticipate any cancellation from the customers despite an increase of Rs 35,000 in vehicle prices from the earlier announced Rs 1.10 lakh.

He said that Simple Energy will also focus on ramping up its retail operations in the next 12 months across 40-50 cities, through a network of 160-180 retail stores in these cities.

“We are excited to commence our journey in the competitive Indian auto landscape and we will continuously focus on evolving ourselves through insights and learning that we gather from the industry,” said Rajkumar.

Going forward the company’s biggest priority will be to facilitate quick deliveries for customers who have been patiently waiting for the vehicle.

The company said its maiden offering has undergone a series of improvement cycles based on the initial feedback received and is finally ready to make a mark on the roads in the country.

Simple ONE will now be equipped with fixed and removable (portable) batteries, delivering a range of 212 kms in Indian driving conditions (IDC), making it the longest range electric two-wheeler in the domestic market.

Besides, the vehicle will also be the first e-scooter to come with a thermal management system, developed collaboratively with IIT-Indore, helping mitigate any thermal runaways.

“Simple ONE is equipped with an amalgamation of exciting features, extended range, and superior comfort levels. We are confident that it possesses all capabilities that are required to disrupt the market,” said Shreshth Mishra, Co-Founder, Simple Energy.

Early this year, the company inaugurated its new manufacturing facility in Shoolagiri, Tamil Nadu with an installed annual capacity of around 5 lakh units per annum.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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