TimesEV
TimesEV
TimesEV
TimesEV
TimesEV
TimesEV
More
    HomeEV NewsIndia EV NewsOkaya EV aims Bigger, Targets 100 Bn as Revenue

    Okaya EV aims Bigger, Targets 100 Bn as Revenue

    Okaya Power Group’s EV arm, Okaya Electric Vehicles (Okaya EV), is eying INR 10,000 crore revenue and aims to sell one million vehicles in the next three years. Okaya EV also said it has already sold 1.70 lakh EVs ever since it ventured into the domestic electric vehicle space nine months ago.

    During this period, the company has achieved a deeper market penetration with a network of more than 400 showrooms, covering all the states across the country, it said.

    The EV maker’s current product range comprises ClassIcQ 100 and 150, AvionIQ 100 and 150, and Faast e-scooters.

    Buoyed by the high demand for ‘Faast’, the company is currently in the process of expanding its production capacity with plans to manufacture up to 5-lakh EVs per annum in the next six months apart from launching many more exclusive showrooms pan-India, it added.

    It currently has a capacity to manufacture 1,80,000 electric vehicles per annum.

    “We expect to close this financial year with INR 2,000 crore revenue. Subsequently, we have targeted to sell over 10-lakh EVs in the next three years and achieve over INR 10,000 crore revenue during this period through our EV arm,” said Anshul Gupta, Director, Okaya Power Private Limited.

    The domestic electric two-wheeler industry is yet to pick up its desired pace despite subsidies being offered to the consumers by the government with lack of awareness a major roadblock to EV uptake, it said.

    Noting that localisation is playing a major role in the growth of Okaya EVs, he said the company has done localisation of up to 70 per cent of the EV components in-house.

    Related Post

    Most Popular

    Best Picks

    Veridify, Overcoming the challenges of OT security in building automation with an STM32

    Despite popular belief, it is possible to secure legacy embedded systems properly, even if they lack today’s iron-clad cryptographic capabilities, the latest protections, or...

    Tsuyo’s Vision for Future Manufacturing: Incorporating Emerging Technologies and...

    Tsuyo Manufacturing is deeply committed to offering highly reliable, robust, and durable products designed to withstand a wide range of exposure and service conditions...

    Revamp Moto’s Vision for Advanced EV Features and Industry...

    Revamp Moto is a dynamic and forward-thinking electric vehicle (EV) startup, firmly committed to providing sustainable and adaptive E-mobility solutions. Their primary focus centres...

    ST and ZF sign multi-year supply agreement for Silicon...

    Silicon Carbide technology is widely used in semiconductor material which are easy to fabricate and provides good general electrical and mechanical properties. However, it...

    Exploring Electrochemical Properties: Unraveling Battery Performance and Behavior

    Automotive Test Systems stands as a trailblazing company with an extensive and diverse background in Product Validation, Structural Testing, Data Acquisition and Analysis, Vehicle...

    WISE Testing Solutions: Comprehensive Products and Services for Vehicle...

    WISE Testing Solutions Pvt. Ltd., a privately held company registered as a limited company, aims to provide a comprehensive range of products and services...

    Anton Paar: Revolutionizing EV Battery Testing with Standardization Initiatives

    Anton Paar, a distinguished company specializing in the development, production, and distribution of precision laboratory instruments and process measuring systems, alongside delivering customized automation...

    Exploring the Challenges and Testing Methods for Electric Vehicle...

    Aimil Ltd. is an esteemed organization celebrated for its exceptional expertise spanning multiple domains such as electric vehicle battery testing (both electrical and mechanical),...

    “The core idea behind u-blox has always been to...

    u-blox develops some of the world’s leading IoT communication and GNSS modules, chips and services supporting the industrial, automotive and consumer markets. Recently Andreas...

    Must Read