Estimated Reading Time: 1 minutes
iVOOMi Energy, a Maharashtra-based company that makes electric two-wheelers, has announced plans to invest Rs 200 Crore in Pune’s new manufacturing plant and further it’s Research & Development.
The company will have a manufacturing facility operational by March 2023. This will allow them to increase their production capacity by more than 60,000 units per annum, bringing it to a total of 2.4 million units per annum, up from the current 1.8 million units.
iVOOMi Energy stated that the new unit will create jobs in the area and employ over 2,000 people.
Ashwin Bhandari is the co-founder of iVOOMi Energy. He stated, “We believe there is a lot of development and innovation in the electric vehicle segment, and iVOOMi Energy continues to strive to set a standard in the industry.” We will therefore be focusing on R&D and expanding our business to achieve significant growth by the end of the current financial year.
The company has an existing functional R&D centre in Pune, Maharashtra. It has a daily production capacity of 500 electric two-wheelers from its manufacturing facilities in Ahmednagar, Noida, and Pune.
Currently, iVOOMi Energy has iVOOMi S1, City – 1, and City and Jeet Pro electric scooters. Soon, the company will launch its i1 scooters and Jeet X electric scooters. Jeet Pro and Jeet scooters have swappable 1.5kW and 2.0kW battery packs, respectively.
The company claims that it designs and produces lithium-ion batteries in-house. It also stated that it is currently working to improve its battery performance and is determined to increase its manufacturing capacity for EV batteries.