Okinawa Autotech, which ranks among India's top-selling electric two-wheeler manufacturers, has outlined plans to increase localisation to 100 percent by the end of this fiscal year. At present, the company has achieved 92 percent localisation.
Meanwhile, in a move designed to be future-ready, particularly in view of manufacturing capacity, Okinawa has confirmed it is investing between Rs 200-250 crore in a new manufacturing plant in Bhiwadi, Rajasthan. Achieving full localisation will also enable the company to rationalise vehicle pricing and thereby increase its cost competitiveness in the electric scooter market.
In FY2021, Okinawa Autotech sold a total of 30,930 units and is targeting sales of around 100,000 units and a turnover of Rs 465 crore turnover in FY2022.
According to Jeetender Sharma, MD and founder, Okinawa Autotech, “At present, Okinawa is over 92 percent localised and we are aiming to go for 100 percent localised components by the end of this year. We are working rigorously with our suppliers to fill in such gaps and reduce our dependence on imports. This will provide a push to local component manufacturers to bolster the domestic supply chain and help to strengthen the automotive industry from its core. The auto sector is one of the key drivers of the Indian economy and we aim to contribute further to the ‘Make in India. Made for India vision’.”
While the latest Q2 FY2022 sales numbers have yet to be revealed, Okinawa sold 15,976 electric two-wheelers in Q1. The sales include around 2,369 FAME II-compliant electric two-wheelers and 13,607 non-FAME II-compliant electric two-wheelers. What is helping its growth is the sharp rise in petrol price and also the supportive policies from several state governments inducing customers to opt for electric mobility.
Okinawa currently has a network of around 350 dealers across India, catering to metro cities as well as Tier 2, Tier 3 and rural markets.