Pure EV plans to build ₹400 crore manufacturing unit that will improve its production capacity of 3.5 lakh units in two stages. The two-wheeler pure electric vehicle producer is engaging with state governments of Tamil Nadu, Karnataka, Andhra Pradesh, and Telangana to finalize its new plant's location.
At present, Pure EV boasts an annual capacity of 50,000 units and managed to sell 12,800 vehicles in the fiscal year 2024. For FY 2025, it looks to achieve a sales target of 25,000 units. It should breach the 50,000 mark by FY 2026. 70 percent of the equity funds will be mobilized and the balance amount by way of debt according to its Founder and Managing Director, Nishanth Dongari.
Other than domestic expansion, Pure EV also views international markets with special focus areas like West Asia and Africa. Exports are estimated to contribute to 20 percent of the total sales by 2028. By 2024, the company exported 2,000 units. As of now, Pure EV dealership network stands at 75 units, which would be increased up to 320 in 2027 and 800 in 2029.
The company has rolled out its high-tech X Platform 3.0, which leads with features such as artificial intelligence to build better performance, connectivity, and user convenience. Thrill Mode boosts performance, Predictive AI allows for autonomous maintenance, while the next-gen TFT dashboard allows for real-time updates with seamless connectivity.
Pure EV's expansion also focuses on sustainability, investing in battery recycling and renewable energy and even having a dedicated battery manufacturing facility. This is all very much in keeping with its vision for cleaner urban transportation.