Okinawa Autotech announced its commitment to invest Rs. 150 crore in FY2022 and aims to increase its revenue by 300 per cent in the current financial year.
View PhotosThe Okinawa PraisePro was the company’s highest-selling EV in FY2021
Okinawa Autotech, one of India’s leading electric two-wheeler manufacturers, has announced its ambitious target to increase its revenue by 300 per cent in FY2022. Furthermore, it reiterates its commitment to invest ₹ 150 crore, most of it towards a new plant in Rajasthan. The company also aims to grow its product portfolio and expand its on-ground footprint. The company clocked annual revenue of Rs 155 crore in FY 2021. In FY2021, the company sold 30,930 units and aims a sell three-fold increase in sales in FY2022.
Also Read: Okinawa Ties Up With Welectric For Last Mile Delivery Electrification
(Okinawa Dual electric scooter is designed for last mile deliveries)
Summing up the performance of FY 21 and the roadmap for FY 22, Jeetender Sharma, MD & Founder of Okinawa said, The last year has been tough for the entire automobile industry. It was indeed a setback for us at Okinawa, as for any other company. Having said that, we are glad to share that we managed stable growth and continued to make a mark in India’s electric vehicle revolution, even in such difficult times. Okinawa is planning to sell three times the scooters that we sold in 2020. As the ecosystem strengthens further, we are absolutely bullish about our growth prospects in FY 22.”
Also Read: Okinawa Oki100 Electric Motorcycle Teased Ahead Of Launch
(Okinawa plans to expand its portfolio this year. One of the new launches will be the Oki100 electric motorcycle)
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The Okinawa PraisePro was the company’s highest-selling electric scooter. The other big launch in FY2021 was the Okinawa Dual, which is a customisable electric two-wheeler for B2B purposes. Okinawa has also announced strategic partnerships with financial institutions and e-commerce companies such as Edelweiss, Credr, Zest money, Welectric, and Beep cart. Many Okinawa products are also being deployed as last-mile delivery vehicles by B2B logistics companies. Okinawa also plans to set up a new manufacturing facility in Rajasthan this year as well.
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