iVOOMi Energy will make an investment of Rs 200 crore to set up a new manufacturing unit at Pune, Maharashtra.
The new manufacturing unit will be a fully-integrated electric two-wheeler plant that will be operational from March 2023.
This will increase the company's production capability by 60,000-plus units a year, taking annual production capacity from 1.8 lakh units a year to 2.4 lakh units.
The new unit will also generate employment for locals and provide jobs to over 2,000 people.