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Okinawa to invest ₹150 crore to set up new manufacturing unit in Rajasthan

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Okinawa to take a position ₹150 crore to arrange new manufacturing unit in Rajasthan

Electrical two-wheeler maker Okinawa Autotech plans to take a position 150 crore in organising a brand new manufacturing unit in Rajasthan, and roll out recent merchandise because it units a goal of promoting 1 lakh models within the subsequent fiscal 12 months, in keeping with a high firm official.

The corporate, which had just lately launched B2B electrical two-wheeler – Okinawa Twin, priced at 58,998, focusing on the supply sector, expects gross sales from the phase to account for round 20 per cent of its whole gross sales.

“We’re developing with a brand new facility and new merchandise. The full funding within the subsequent fiscal 12 months might be round 150 crore,” Okinawa Autotech Managing Director and Founder Jeetender Sharma instructed PTI.

(Additionally learn | Okinawa Dual, India’s first customisable B2B electric scooter, launched)

The brand new manufacturing unit might be close to the corporate’s current plant in Rajasthan.

“The brand new facility may have an annual capability of 5-6 lakh models within the first section and may go as much as 10 lakh models in future,” Sharma added.

When requested about new merchandise, he mentioned the corporate is focusing on each the B2B and B2C phase.

Final week, Okinawa Autotech launched its Okinawa Twin, powered by a 250 Watt electrical motor with 48W 55Ah removable lithium-ion battery with a spread of 130 km on a single cost. It has a high pace of 25 kmph.

Sharma mentioned the Covid-19 pandemic has accelerated the rise of e-commerce and last-mile deliveries. It has grow to be crucial for companies within the supply phase to innovate, scale back operational prices, and improve effectivity constantly, and Okinawa Twin will deal with that want.

(Additionally learn | Okinawa discontinues lead-acid battery-based products, to sell lithium-ion trims)

The corporate will launch its high-speed motorbike codenamed OKI100 within the first half of this 12 months, he added.

On the gross sales entrance, he mentioned Okinawa Autotech would shut in on cumulative gross sales of round 1 lakh models by the tip of the continuing fiscal because it began operations in 2017.

“In FY 21-22, no matter we have now achieved thus far, we are going to double the quantity with the approaching in of two-three new fashions. It’s a truthful estimate that we’ll promote round 1 lakh models subsequent fiscal,” Sharma mentioned.

(Additionally learn | Ola partners Siemens for its electric scooter manufacturing facility)

Of the whole, he mentioned the B2B phase would account for round 20 per cent.

Bullish on the electrical two-wheeler phase’s development, Sharma mentioned with the transition to BS-VI emission norms, costs for typical scooters and bikes have gone up, thereby lowering the hole with electrical counterparts, and Okinawa Autotech has focussed on localisation to be cost-competitive.

“We’ve greater than 92 per cent localisation until date. Within the subsequent quarter, we’re going to be 100 per cent,” Sharma mentioned, including though the battery cells coming from outdoors the corporate have a devoted provider in India supplying it the battery packs.

This story has been printed from a wire company feed with out modifications to the textual content. Solely the headline has been modified.

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