IIT Hyderabad incubated startup Pure EV to launch Etrance Neo on Dec 1
The high-speed, long-range vehicle with patented battery is priced at Rs 75,999
Hyderabad: IIT Hyderabad-incubated startup Pure EV is going to launch ‘Etrance Neo,’ its high-speed long-range model on December 1. The new model offers a higher pickup and longer range combined with modern aerodynamics.
Etrance Neo offers a pick-up speed of 0 to 40 kmph in five seconds. Its 2,500 Wh-patented battery offers the vehicle a range performance of 120 KM for a single charge in ‘Eco Mode.’ The scooter chassis is designed for higher speeds at par with the conventional ICE (Internal Combustion Engine) two-wheelers. The vehicle will be launched at ex-showroom price of Rs 75,999.
Pure EV, which raised funding in 2019 at a valuation of $35 million dollars, 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. The startup has dealers in 100 locations across 20 Indian States and recently launched its products in Nepal, with more export markets targeted in the near future.
Rohit Vadera, co-founder and CEO, Pure EV, said, “The new model has better aerodynamic features for additional improvements in powertrain efficiency. The vehicle has faster pickup and longer range. It is being launched mainly targeting youngsters who will find this model very appealing.”
Vadera added, “We are 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 will be available pan-India from our outlets pan-India from mid of December 2020.”
Building capacity
The company has established a 10,000 sq ft-R&D facility and in-house battery manufacturing facility based out of IIT Hyderabad campus where the company’s researchers work on core areas of battery thermal management system for development of long-range and high-performance lithium batteries.
Pure EV is in the process of significantly expanding its manufacturing base to a larger facility with an annual capacity of 2 lakh EVs and battery manufacturing capacity of 5 GWh in comparison with the existing capacities of 20,000 EVs and 0.5 GWh.
This will be achieved at a new 2 lakh sq ft manufacturing plant, which the company intends to commission during 2021 to meet the anticipated growth in the Indian electric vehicles and lithium battery market.
The EV startup has already launched five models in the market that include EPluto 7G, Epluto, Etrance, Etrance+ and Etron+.
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