iVOOMi Energy, An EV Manufacturer, To Invest Rs 200 Crore In a New Manufacturing Facility

iVOOMi Energy, a Maharashtra-based electric two-wheeler company, has announced plans to invest Rs 200 crore in establishing a new production facility in Pune and also generating over 2000 jobs while expanding its R&D. The new facility will be a fully integrated electric two-wheeler unit which is anticipated to be functional from March 2023.

The investment is likely to increase the company’s manufacturing capability by 60,000 units or more, raising annual output from 1,80,000 to 2,40,000 units.

The company is planning to deliver over 200,000 units by the end of FY 2023.

Ashwin Bhandari, CEO and co-founder of iVOOMi, said, "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."

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

The company already runs an R&D facility in Pune and can produce 500 electric scooters a day at its factories in Noida, Pune, and Ahmednagar.

iVOOMi Energy currently sells electric scooters in India under the brand names iVOOMi City, City-1, Jeet, Jeet Pro, and S1. The company will soon introduce new scooters, the i1 and Jeet X. The Jeet and Jeet Pro scooters offer swappable 1.5kW and 2kW battery packs, respectively.

In addition, the company also wants to roll out cutting-edge battery modules, swappable batteries, and core battery technologies to further boost the battery performance. The company is also focused on expanding its internal design and production capacities for the batteries.