EV company iVOOMi Energy on Monday announced plans to invest Rs 200 crore for setting up a manufacturing facility in Pune, India.
The electric two-wheeler plant will be operational from March 2023. iVOOMi Energy aims to create more than 2,000 jobs.
The investment is expected to increase the facility’s production capability by 60,000 plus units, taking the production number from 180,000 units a year to 240,000 units a year.
The company aims to roll out more than 200,000 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.
The company 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.
iVOOMi Energy 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.