Okinawa to set up plant in Rajasthan at Rs 200 crore investment
Okinawa Autotech has decided to invest Rs 200 crore to set up a second manufacturing plant in Rajasthan.
The first phase of the plant will be commissioned towards the beginning of 2020-21. The plant will be funded through a mix of debt and internal accruals, said the company.
The Gurgaon-based electric two-wheeler manufacturer has acquired land near Bhiwadi for the new plant, which will have a total manufacturing capacity of one million units.
Jeetender Sharma, founder, Okinawa Autotech, said, “We expect the market for electric two-wheelers and three-wheelers to grow to 7-8 million units by 2022. We want to gain leadership position in the electric two-wheeler segment and will be ready with the required products, technology and capacity for the same.”Okinawa Scooters reported revenue of Rs 200 crore for 2018-19.
Image Credit : okinawascooters.com