Electric two-wheeler manufacturing company Okinawa Autotech Pvt. Ltd. is planning to develop a new manufacturing unit in Rajasthan by investing more than USD 25 million in an effort to sell over a hundred thousand two-wheelers by the next financial year.
Founder and Managing Director at Okinawa Autotech, Jeetender Sharma reportedly stated that the new facility, in the first phase, will have an annual capacity of 5-6 million and will be able to produce 1 million electric two-wheelers units. In the context of new products, he said that Okinawa is targeting both the B2C and B2B segment.
As per credible sources, the company launched Okinawa Dual last week, powered by a 250-watt electric motor with a detachable 48W 55Ah lithium-ion battery which serves 130 km on a charge, and has a maximum speed of 25 kmph.
This two-wheeler is priced at around USD 800 and expects its sales to account for 20% of its overall revenues. Sources confirmed that the new manufacturing unit will be set up near the firm’s present plant in Rajasthan.
Sharma stated that the COVID-19 pandemic has fueled the growth of e-commerce and last-mile deliveries. It has become crucial for businesses in the delivery sector to increase efficiency consistently, decrease operational cost, and innovate, and that the Okinawa Dual will allow the company to address that demand.
Speaking about the growth of the electric two-wheeler market, Sharma said that with the transition to BS-VI (Bharat Stage 4) emission standards, prices for traditional scooters and motorcycles have increased, reducing the gap with electric counterparts, and the company emphasizes localization for cost-competitiveness.
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