Simple Energy announced that it would invest Rs 2,500 crore in the next five years to set up an electric vehicle manufacturing plant in Tamil Nadu. The facility is spread across 600 acres of land, will be the firm’s second production unit, and will start working by 2023. Simple Energy has also signed a memorandum of understanding (MoU) with the Tamil Nadu government of Rs 2,500 crore for building the giant electric two-wheeler vehicle plant in Dharmapuri, the company said in a statement.

“With the MoU, we want to lead the Indian E2W market by setting up a resourceful ecosystem that will help India’s vision to decrease carbon footprints. The firm will redefine electric mobility in India,” said Suhas Rajkumar, Founder and CEO of Simple Energy. The company will invest Rs 1,000 crore to build its second plant in 600 acres and plans to open the second factory by 2023.