Okinawa to invest ₹150 crore for new manufacturing unit in Rajasthan

  • According to a report by KPMG and CII, the growth of personal electric cars would witness a growth of 10%-15% in the coming few years.

Electric scooter manufacturer Okinawa has now proclaimed to commence its new manufacturing unit in Rajasthan with an investment of around Rs. 150 Crore, claims an unnamed official. Rajasthan seems to be the hotbed of electric vehicle units in India and the government is undertaking various initiatives to boost the sector in the state. 

A week back, Rajiv Arora, president of the Federation of Rajasthan Exporters urged the government to offer an ideal location for the carmaker and a special incentive package to attract them to the state. He also added that  RIICO is currently opening industrial areas across Rajasthan for allotment, spread over 17,250 acres. The letter said the department “will be happy to facilitate identification of possible locations and in streamlining various further requirements.”

To reduce carbon emissions and dependence on crude oil, the government of India has announced several schemes such as NEMMP, FAME, and an incentive package under Aatmanirbhar Bhaarat to perk-up the industry. According to a report by KPMG and CII, the growth of personal electric cars would witness a growth of 10 percent to 15 percent in the coming few years, whereas electric vehicles of ride-sharing and cabs might have a growth of  20 percent to 30 percent.

In order to carry out the benchmark, Okinawa had recently launched B2B electric two-wheeler – Okinawa Dual, priced at Rs. 58,998, targeting the delivery sector expects the sales from the segment to account for around 20 percent of its total sales.

Okinawa Autotech managing director and founder Jeetender Sharma told that the company is coming up with a new facility and new products. The total investment in the next fiscal year will be around Rs. 150 crores. The new manufacturing unit will be near the company’s existing plant in Rajasthan. He added that the new facility will have an annual capacity of 5 to 6 lakh units in the first phase and can go up to 10 lakh units in the future.

Industry experts claim that all the automakers now look forward to launching electric cars more instead of traditional combustion engine vehicles and then they will have to think about new innovation and make the best utilization of the government incentives and initiatives.

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