EXCLUSIVE: Simple Energy to invest over US$ 100 million in its EV business

Simple Energy, India's electric vehicle and clean energy start-up, is looking to invest over US$ 100 million in its electric vehicle business. The company will also be looking at electric cars as a form factor, making it the second company after Ola to do so.

The company today officially launched its maiden electric 2-wheeler, the Simple ONE at Rs 1,45,000, without the charger, and Rs 1,58,000 with a 750W charger.

The EV will be powered by a 5 kWh battery pack that will deliver a peak power of 8.5 kW and develop a  max torque of 72 nm and a top speed of 105 km. 

Unveiled globally on August 15, 2021, Simple ONE has undergone a series of improvement cycles. While it is understood that the company has plans to grow its presence in the electric two-wheeler business industry sources said that there are plans for an electric four-wheeler that is also in the offing. However, this development could not be confirmed by the company officials at the time of filing this report. 

Suhas Rajkumar, Founder and CEO of Simple Energy said that they would continuously focus on evolving themselves. "Going forward, our biggest priority is to facilitate quick deliveries for customers who have been patiently waiting to get their Simple ONE home," he added. 

The Simple Energy EV will be available in three modes with "Echo: as the base mode followed by ride, dash, and sonic as the superpower mode. It is powered by an IP67 battery with an IDC range of 212 km (with 6 percent SOC power left) and has an overall length of 1900 mm and overall width of 758 mm.

Furthermore, Simple ONE is also the fastest E2W in its segment, sprinting to 0-40 kmph at 2.77 seconds. It is the first e-scooter to come with a thermal management system, developed collaboratively with IIT-Indore, helping mitigate any thermal runaways.  The company has developed in-house battery, motor, swing arm, rims with tyres, chasis, brake systems, switches lights, and mirrors, and has filed 212 patents.

In terms of its retail distribution the company has planned to expand its retail operations to 40-50 cities through a network of 160-180 retail stores, informed a senior company official. 

Simple Energy has done registrations of more than 1 lakh pre bookings in 18 months. Now, with the official launch, it plans to facilitate customer deliveries in a phased manner, starting with Bengaluru. The deliveries shall commence in the upcoming days. In addition, it will also focus on ramping up its retail operations in the next 12 months by being present in 40-50 cities, through a network of 160-180 retail stores in these cities.  

Early this year, the Bengaluru-based start-up, inaugurated its new manufacturing plant, Simple Vision 1.0, in Shoolagiri, Tamil Nadu, and has an installed annual capacity of approximately 5 lakh units. With more products in the pipeline and its core focus on R&D, Simple Energy aims to be at the forefront of the ongoing global transition to green mobility.