Okinawa Scooters is investing INR 200 crores to set up their second production facility.
The Indian electric vehicle scene is about to go through a lot of changes. There’s little doubt at this point that they will rule India in the coming decade. In hopes to capitalise on this opportunity, Gurgaon-based Okinawa Scooters has announced plans to set up a manufacturing facility in Rajasthan.
Okinawa was one of the first companies to begin sales of electric scooters in India. They were also the first electric scooter to get FAME-II subsidies. FAME-II was passed by the Indian government recently where an amount of INR 10,000 cr was set aside to boost the adoption of electric vehicles in India.
To continue their growth in India, Okinawa Scooters is investing INR 200 crores to set up their second production facility. The first one is also in Rajasthan. Upon completion, it will have a production capacity of a million units. The first phase is expected to be commissioned in early 2020-21.
The Okinawa iPraise and the Okinawa Ridge+ have been incentivised by the Automotive Research Association of India. The level of localisation on these products is about 80%, and the company is working towards increasing that figure. This could also bring down the prices of their electric scooters.