The fact that Okinawa Autotech had a new plant coming up was revealed in January 2021. At the time, the company reported that an investment of Rs. 150 crore will be made for the new plant. Now, Okinawa seems to have a bigger plan and said that it will invest more in the plant, with the total investment going up to maybe Rs. 250 crore. The new plant will be coming up in Bhiwadi, not very far from its first plant in Alwar.
Also Read: Okinawa Oki100 Launch Timeline And Other Details Revealed
(The new Okinawa manufacturing unit will have a capacity of 5-6 lakh units per annum in the first phase)
When asked about the investment on the new Rajasthan plant, Jeetender Sharma, MD, Okinawa Autotech said, "I think it will be increased more. It will reach around Rs. 200 crore, maybe between 200-250 crore." He added by saying, "this plant will be operational at the end of the first quarter of the next financial year.
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(The next launch from Okinawa will be the Oki100 electric motorcycle)
Okinawa's current production capacity is 90,000 units in a single shift. The capacity of the new plant in the first phase will be 5-6 lakh units while the second phase will see the production capacity increase to 1 million units. Till date, the company has sold over 90,000 units in India. For FY2022, it has a target of one lakh unit sales along with an increase in revenue of over 300 per cent. The localisation level for Okinawa scooters is currently hovering between 92 to 100 per cent.
(Okinawa aims to sell 1 lakh units in India by the end of the current fiscal year)
Okinawa Autotech reported its sales for the first quarter (April - June) of the 2021-22 financial year, and the company sold 15,976 electric scooters during this period. The manufacturer said that it saw a spike in sales in the recent months on the back of the rising fuel prices as well as supportive policies from several state governments inducing customers to opt for electric mobility.
Okinawa sold 4,467 units in April, 5,649 units in May and 5,860 units in June this year. In addition to the growing numbers, the company also expanded its presence in the Southern states of the country with dealerships in Karnataka, Tamil Nadu, Andhra Pradesh and Maharashtra.
