- Current localisation stands at 92 per cent
- Plans to invest Rs 200-250 crore in its new manufacturing plant
- Aims to achive 100 localisation this fiscal year
Electric vehicle maker, Okinawa Autotech has announced that it plans 100 per cent localisation of its products by the end of this fiscal year (FY2021-22). Apart from announcing its plans for 100 per cent localisation, the company also gave an insight into its growth plans. Okinawa plans to invest Rs 200-250 crore in its new manufacturing plant in Bhiwadi, Rajasthan.
Commenting on the development, Jeetender Sharma, MD and Founder, Okinawa Autotech, said that the company currently has a localisation level of 92 per cent. He further added that the company is working with its suppliers to fill in such gaps and reduce its dependence on imports.
Okinawa’s current portfolio comprises five electric models – Praise, i-Praise, Ridge Plus, R30, and Lite. The company also teased an electric motorcycle, the Oki100 in March 2021, although it is yet to announce the launch of that product. The electric motorcycle was showcased in prototype form at the 2018 Auto Expo in Delhi.
