With a new manufacturing facility, iVOOMi to increase its production size by 60,000 – 80,000 units The company to generate employment for 2000 staff To enhance the product R&D in the EV space for manufacturing consumer affordable products
iVOOMi Energy, one of the fastest-growing EV companies in India, announced its expansion plans by investing INR 200cr towards Research & Development (R&D) and setting up a brand new manufacturing facility in Pune, Maharashtra. The company aims to enhance its R&D facility with the mission of providing world-class products at favorable prices to consumers.
Additionally, after setting up a manufacturing plant in Pune, this will be the fourth manufacturing unit of the company in the country. The new manufacturing facility will be a fully-integrated electric two-wheeler plant that will be operational from March 2023. As a result, the company will also generate local employment and will provide jobs to more than 2,000 people. The investment will 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.
Mr. Ashwin Bhandari, CEO & Co-Founder iVOOMi, stated, “In line with the government’s EV vision, we are constantly working towards creating an EV ecosystem by establishing new R&D and manufacturing units for producing cost-effective products for consumers & focus on the futuristic sector demands. 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. Therefore, we will focus on more R&D and business expansion to make a significant development by the end of this financial year.”
The company has its already existing R&D unit based in Pune and has a manufacturing capacity of 500 electric scooters a day from its manufacturing facilities in Noida, Pune, and Ahmednagar. To propel the mission of Atmanirbhar Bharat, iVOOMi is one of the very few companies to manufacture electric vehicle batteries in-house. iVOOMi is working on an extensive product development strategy, wherein the company aims to introduce some future-ready products to the market. The company has witnessed some significant developments that are currently under development. Exclusive B2B accessories and modules like simple-to-install loaders to enable back support for the riders are among a few add-ons which will benefit the consumers in two-wheeler mobility.
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 is focused on scaling up its in-house design and production capabilities for the batteries.
About iVOOMi Energy
Established in 2001 under the leadership of Mr. Sunil Bansal and Mr. Ashwin Bhandari, iVOOMi successfully made strides in different sectors such as telecommunication, audio equipment, technology accessories, DIY components, and smart gadgets. Prior to iVOOMi, Mr. Sunil had successfully laid the growth for Intex and built and implemented business models in the shortest time.
While Ashwin holds a proven track record of successfully nurturing and propelling startups with technologically advanced products, right from consumer tech and smartphones. Two have come together to share the vision of transforming traditional mobility into new-generation mobility. With the aim of driving the vision of a greener and cleaner future, the company has moved ahead into a new era of providing sustainable mobility solutions. The company aims to set a new benchmark in the EV industry with its key proposition to deliver “eco-friendly products” engrained with high-quality specifications and world-class speed, efficiency, and innovation.
iVOOMi is an Indian brand with a significant presence in the Asia-Pacific region, across countries such as Hong Kong, China, Thailand, the Philippines, Ethiopia, Nepal, and the Middle East. The firm comprises an extensive global team with a combination of young and experienced professionals who have invested the last couple of years in the development, production, and testing of electric vehicles to come up with future-ready products for the Indian market.
This article was shared with Prittle Prattle News as a Press Release.
