Simple Energy is Working on Two More Electric Scooter and an Electric Bike

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The electric vehicle manufacturing company, Simple Energy was founded in the year, 2019. The company launched its first electric scooter "Simple One" in the Indian market a few days ago. The company is working on two more electric scooters and an electric bike. The company is also planning to launch an electric car by the year, 2025, and it is already working on it.

In a Recent Interview Simple Energy Founder & CEO "Suhas Rajkumar" Revealed that, " We are working on two more electric scooters and an electric bike, which would be launched in the next 18 months. We are also working on an electric car, and most probably, it will be launched by the year, 2025. Our objective is to increase powertrain efficiency, and we are building a new automobile technology for that and it will be magnetless. Also, we are exploring the making of a strong hybrid electric car."

The about-to-be-launched electric scooters by Simple Energy would have a cost lesser than its first electric scooter, Simple One. And, the price of the Simple One electric scooter is Rs. 1.45 lakhs. The price of the premium bike from Simple Energy is expected to be in the range of Rs. 3 lakhs to Rs. 5 lakhs. Both of the new electric scooters from Simple Energy would cost between Rs. 1 lakhs to Rs. 1.5 lakhs. And, the production of these electric scooters is expected to start in the next 8-10 months.

Simple Energy revealed the launch of this electric vehicle on 15th August 2021 with a cost of Rs. 1.10 lakhs (inclusive of all prices). Ola Electric, presently the top-selling electric scooter manufacturer in India, also launched the Ola S1 Pro on that day.

After the showcase of its electric scooter, Simple Energy guaranteed that the EV deliveries would start in December 2021. Then, it was postponed because of the effect of Covid-19 and supply chain regulations. After that, it was postponed to June 2022 due to the increase in the number of EV fire occurrences. Then, it was postponed to September 2022 owing to compliance with the new battery safety rules by the Ministry of Road Transport & Highways (MoRTH). Finally, the Simple One EVs will be delivered beginning in June 2023 in Bangalore in a phased manner.

The competitor of Simple Energy, Ola Electric also aims of launching its battery-based electric car by the year, 2025. Both Simple Energy and Ola Electric are in a race to scale up the manufacturing of their electric cars to win the customers’ demands.

Founder and CEO of the 4-year-old start-up, Suhas Rajkumar guaranteed that, the electric scooter which will be provided with fixed and removable batteries, with a 212 km range in IDC (Ideal Driving Conditions) will have an efficient Li-ion battery with a capacity of 5kWh. The thermal management system of the electric scooter is being made in collaboration with IIT-Indore.

Simple Energy has goals of achieving 30,000 units in sales per month, and becoming the number 1 electric scooter in the Indian market by the next year. As per Rajkumar, the company's upcoming two electric scooters will increase sales further, as they have a target of about 20% share of the EV market, with the vehicles’ lower prices comparatively.

Rajkumar told, "Going forward, we are looking to scale up so that we can boost our margins on the top line. By the next 24 months, we are looking to make the EBITDA positive, and the company revenue would be between Rs. 150 crore to Rs. 200 crore. By the next year, Simple Energy is aiming to be at a topline of Rs. 3000 crores."

The company aims to export its electric vehicles from India to Europe and, the Middle East and North Africa region, by the coming 18-24 months.

Read More:- Simple Energy Secures Rs 165 Crore in Funding for the Ramp-up of Simple One

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