Okaya EV sales grow 140% in May 2023; sixth-largest electric two-wheeler player

Indian two-wheeler maker Okaya EV reported its sales for May 2023 and the manufacturer registered a 140 per cent increase year-on-year with 3,875 units sold. Okaya became the sixth-largest electric two-wheeler player last month, after Ola Electric, TVS, Ather Energy, Bajaj Auto and Ampere. The company also said that it managed to capture a market share of 3.7 per cent of the electric two-wheeler segment in the country.

Okaya said that its impressive volume hike has resulted from an expanding customer base due to increased market penetration. The two-wheeler maker retails a range of electric scooters including the Faast lineup, Freedom and ClassIQ+, according to the company’s website. The company’s flagship offering, the Faast F4 is also its best-seller and promises a range of 140-160 km on a single charge. Okaya electric scooters use LFP battery packs that promise safer chemistry and longer shelf life.

Okaya recently hiked prices across its range with the FAME II subsidy revision

Speaking about the impressive rise in sales, Dr. Anshul Gupta, Managing Director - Okaya EV, said, "We are thrilled to witness such a remarkable surge in sales, which are reflecting the strong demand for electric vehicles in today's market. This achievement is a testament to the hard work and dedication of our entire team, as well as the trust our customers have placed in us. At Okaya EV, we remain committed to delivering sustainable mobility solutions and continuously raising the bar in the electric vehicle industry."

Okaya plans to continue this sales momentum by expanding its product portfolio and bringing more tech to its products. The company has not announced an all-new offering yet for this year. Okaya recently hiked prices across its model range in the wake of the FAME II subsidy revision.