EV firm iVOOMi Energy to invest Rs 200 crore in new manufacturing unit, research and development

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 EV firm iVOOMi Energy to invest Rs 200 crore in new manufacturing unit, research and development 

EV firm iVOOMi Energy to invest Rs 200 crore in new manufacturing unit, research and development


EV company iVOOMi Energy on Monday announced to invest Rs 200 crore towards setting up a brand new manufacturing facility in Pune, along with creating more than 2,000 jobs and ramping up its research and development (R&D) efforts.

The new facility will be a fully-integrated electric two-wheeler plant that will be operational from March 2023, the company said in a statement.

The investment is expected to increase the facility's production capability by 60,000 plus units, taking the production number from 1,80,000 units a year to 2,40,000 units a year.

The company aims to roll out more than 2,00,000 units by the end of FY 2023.

"We feel there is a large scope for development and innovation to be made in the space and iVOOMi Energy is continuously striving to set a benchmark in the industry," said Ashwin Bhandari, CEO and Co-founder, iVOOMi.

"We will focus on more R&D and business expansion to make a significant development by the end of this financial year," he added.

The company already has an R&D unit in Pune and has a manufacturing capacity of 500 electric scooters a day from its manufacturing facilities in Noida, Pune and Ahmednagar.

Additionally, in order to further accelerate the battery's performance, the company plans to introduce cutting-edge battery modules, swappable batteries, and core battery technology.

The company said it is focused on scaling up its in-house design and production capabilities for the batteries.


( Details and picture courtesy from Source, the content is auto-generated from RSS feed.)

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