Simple Energy sees demand of up to 4,000 EVs a month, backlog at 2,200

BENGALURU: IPO-bound Simple Energy estimates monthly demand at 3,000-4,000 scooters but is delivering around 1,500-2,000, leaving a rolling backlog of 2,000-2,200 vehicles, founder and CEO Shreshth Mishra told TOI.“Today, demand is not a problem for us. We have almost double the demand of what we are able to supply,” Mishra said. Customers are typically waiting about a month, he added.The company expects output to begin rising from the end of September or in October. Mishra said recently raised capital was being deployed to expand its manufacturing operations and supplier capacity.His comments came as Simple launched Wave, its first family-focused electric scooter. The lineup has six models across three variants, with battery packs ranging from 2.2kWh to 5kWh and claimed test-cycle ranges of 110km to 243km. Prices start at a little over Rs 1 lakh, while deliveries are scheduled to begin in the last week of September.The entry price applies to the base model. Simple has not disclosed the price of the 5kWh Wave+, which carries the headline 243km range. Mishra said the introductory price would remain for the “foreseeable future”, with detailed variant prices to be released separately.Wave uses the same motor, battery and chassis platform as Simple One, with modifications for a family-scooter layout. Mishra said this allowed the company to develop it faster while using components already tested on vehicles on the road.Simple currently describes its effective production capacity as 3,000 scooters a month. Mishra said the physical plant could make more, but output had been constrained by supplier capacity, the production ramp and the size of its dealership network.Simple has more than 75 exclusive outlets across over 60 cities and is targeting monthly sales of 10,000 scooters by March 2027. It has raised Rs 736 crore to date, including a recent Rs 250-crore debt-and-equity round.Asked about Wave’s Rs 10,000 premium over competitors, Mishra said Simple would compete on value rather than price alone. He said the 5kWh version is already the highest-selling configuration in Simple’s existing portfolio.Get the latest Business News and Live updates. Download the TOI app.