PURE EV, an IIT Hyderabad incubated electric two-wheeler manufacturer, is set to launch ‘Etrance Neo,’ its high-speed, long-range model, on 1 December 2020.
The electric vehicle 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 startup 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.
The company is targeting sales of 10,000 units of this model in the first one year alone. The new model will be available first in Hyderabad and pan India from mid-December 2020.
PURE EV, which raised funding in 2019 at a valuation of USD 35 million, has a 70,000 sq ft factory with manufacturing capacity of 2,000 EVs per month and a battery production capacity of 10 MWh per month.