PURE EV plans to set up a manufacturing facility
PURE EV is an IIT Hyderabad incubated electric two-wheeler manufacturer. The start-up raised funding in 2019 at a valuation of USD 35 million, has a 70,000 sq ft factory with a manufacturing capacity of 2,000 EVs per month and a battery production capacity of 10 MWh per month.
As per reports, the company is all set to launch ‘Etrance Neo,’ its high-speed, long-range model, on 1 December 2020. Furthermore, the EV start-up plans to expand output to two lakh units and battery manufacturing capacity of five GWh as against the existing capacities of 20,000 EVs and 0.5 GWh.
PURE EV is setting up a new two lakh sq. ft. manufacturing plant and commission it during 2021. The electric vehicle start-up has already launched five models in the market thus far. The new model has better aerodynamic features for additional improvements in powertrain efficiency. The vehicle has faster pickup and longer range.
In addition, the company intends to sell around 10,000 units of the new model in the first year. The new model will be available from mid-December this year in Hyderabad and across India. The popularity of Electric Vehicles is going to gain momentum due to rising awareness about the environment. Most of the countries across the world are planning to shift to EVs in the near future.
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