Saturday, July 31, 2021

Okinawa Autotech plans to invest Rs 150 crore to set up new manufacturing unit in Rajasthan

New Delhi: Electrical two-wheeler maker Okinawa Autotech plans to speculate Rs 150 crore in establishing a brand new manufacturing unit in Rajasthan, and roll out contemporary merchandise because it units a goal of promoting 1 lakh models within the subsequent fiscal yr, in accordance with a prime firm official. The corporate, which had just lately launched B2B electrical two-wheeler – Okinawa Twin, priced at Rs 58,998, concentrating on the supply sector, expects gross sales from the phase to account for round 20 per cent of its whole gross sales.

“We’re arising with a brand new facility and new merchandise. The overall funding within the subsequent fiscal yr will probably be round Rs 150 crore,” Okinawa Autotech Managing Director and Founder Jeetender Sharma informed .

The brand new manufacturing unit will probably 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 part and may go as much as 10 lakh models in future,” Sharma added.

When requested about new merchandise, he mentioned the corporate is concentrating 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 variety of 130 km on a single cost. It has a prime velocity 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, cut back operational prices, and enhance effectivity persistently, and Okinawa Twin will deal with that want.

The corporate will launch its high-speed bike codenamed OKI100 within the first half of this yr, 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 continued fiscal because it began operations in 2017.

“In FY 21-22, no matter now we have carried out to date, 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.

Of the entire, 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 standard 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 have now 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.

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