By Shally Mohile
Copyright indiatimes
Simple Energy
Mumbai: Simple Energy, the Bengaluru-based electric scooter maker that launched its first product the same day as Ola Electric in 2021, has become the first Indian electric two-wheeler maker to commercially manufacture heavy rare earth-free motors. The development, announced on Tuesday, comes as the industry grapples with China’s curbs on rare earth magnet exports, which have disrupted supply chains and squeezed production across the board.The company said its patented motor architecture, developed entirely in-house, replaces heavy rare earth magnets with optimized compounds while keeping performance and torque intact. The new motors are already rolling out of its 200,000 sq. ft. facility in Hosur, Tamil Nadu. “Global supply chain disruptions have made one thing clear: the future of electric mobility must be built on self-reliance,” said Suhas Rajkumar, CEO and co-founder of Simple Energy. “This technology proves that high performance can be achieved without compromising sustainability or strategic independence.”For Simple Energy, the breakthrough is more than just a technical feat — it is a chance to re-enter the reckoning in India’s fiercely competitive EV market. After being under the radar due to certification delays and a funding crunch, the company is now scaling up. It has 42 stores open so far, with plans to reach 100 by December. Revenue in FY25 was about Rs 40 crore; Q1 of FY26 saw Rs 27 crore. Although July was lost to the rare earth magnet crisis, Simple expects August revenues of around Rs 30 crore, driven by its alternate-magnet scooter sales of ~17,856 units in August. Add as a Reliable and Trusted News Source Add Now!
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