India: Simple Energy invests $150M on Lithium ion cell factory

Chennai: Electric vehicle startup Simple Energy, which is setting up its EV factory at Hosur (Tamil Nadu), will invest $150 million (around Rs 1136.5 crore) on a lithium ion cell manufacturing unit. The company has tied up with US-based battery company C4V for technology and knowhow.

Simple Energy’s flagship product, Simple One, will be produced at Phase I of the company’s manufacturing unit located at Hosur which has an annual production capacity of up to one million units. The factory will be operational in the coming weeks. The company has also commissioned a second plant in Dharmapuri, Tamil Nadu, which will have a capacity of 12.5 million units annually as part of its Phase 2 ramp up.

Read more at: https://timesofindia.indiatimes.com/business/india-business/simple-energy-invests-150-mn-on-lithium-ion-cell-factory/articleshow/90693184.cms

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s