Gurugram based electric two-wheeler maker Okinawa Autotech is planning to invest Rs 150 crore to set up a new manufacturing facility in Rajasthan near the company's existing plant in the State, Economic Times.
The new manufacturing facility of the company will have an annual capacity to produce as many as five to six lakh electric two-wheeler units in the first phase which could go up to 10 lakh units in the future.
Company has achieved 92 per cent localisation in its manufacturing so far and is looking to achieve cent per cent localisation in the next quarter as per the company's managing director (MD) and founder Jeetender Sharma. He emphasised that the company has been focusing on localisation to be cost-competitive.
Sharma also shared that the company is looking to double the sales achieved in the ongoing financial year so far with two-three new models. he estimates that the company will sell around one lakh units in the next financial year.