Simple Energy Unveils India’s First Rare Earth-Free EV Motors

In a landmark move for the electric vehicle (EV) industry, Simple Energy has announced that it has become the first and only OEM to commercially manufacture heavy rare earth-free EV motors in India. The motors are produced at the company’s 200,000 sq. ft. manufacturing facility in Hosur, Tamil Nadu.

This new development is a major breakthrough in addressing a thorny global supply chain issue, since heavy rare earth materials used in conventional EV-ready motors typically come from only a handful of countries, leaving manufacturers subject to interruptions in supply line.

The new technology developed by Simple Energy eliminates the dependency on heavy earth rare earth and relies on alternative compounds combined with proprietary algorithms that regulate heat and torque delivery, according to the company. The patented methodology matches the performance of traditional rare earth motors, according to the company.

Also Read: What the Rare Earth Crisis Means for the EV and Electronics Industry

Founded in 2019 by Suhas Rajkumar and Shreshth Mishra, Simple Energy is recognized for its range of electric scooters, including the Simple ONE Gen 1.5, which has a claimed distance of 248 km and OneS which has a claimed distance of 181 km. The start-up has raised over $41 million in funding, operates 46 showrooms in India and has 95% localization in its supply chain. Their expansion strategy is also ambitious, aiming to have 150 stores and 200 service centers by the end of FY25.

Simple Energy is aiming for an IPO in FY27 and is looking to raise $350 million to enhance product development, scale manufacturing and increase market penetration. The raise is not only in line with the company's vision but also India's policy push towards domestic EV manufacturing and reducing reliance on imported critical materials.