This electric scooter maker aims for 100% localisation by end of FY22; Know more
Electric two-wheeler manufacturer Okinawa Autotech is aiming for 100% local manufacturing of its electric vehicles by the end of this fiscal year, the company has announced on Wednesday. The EV maker claims that this step is a reflection of its commitment to the Indian government's 'AtmaNirbhar Bharat' campaign.
It also claimed that Okinawa will invest up to 250 crores in its new manufacturing facility in Bhiwadi, Rajasthan in an attempt for 100% localised production.
The demand for electric vehicles in India is growing substantially since last year. As the preference for personal mobility is increasing, electric vehicles are finding new takers. The skyrocketing price of petrol and diesel are further fuelling the demand for EVs.
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Affordability and availability of a wide range of electric scooters are further playing crucial roles in the growth of the electric 2W segment. Okinawa being one of the major players is aiming to grab that chance.
Commenting on the strategy, Jeetender Sharma, MD and Founder, Okinawa Autotech has said that currently, the EV maker's products come with over 92 per cent localisation. The company aims to take its component sourcing to 100% by the end of this fiscal year, he mentioned.
"We are working rigorously with our suppliers to fill in such gaps and reduce our dependence on imports. This will provide a push to local component manufacturers to bolster the domestic supply chain and help to strengthen the automotive industry from its core. The auto sector is one of the key drivers of the Indian economy and we aim to contribute further to the “Make in India. Made for India vision," Sharma further added.
Meanwhile, the electric scooter manufacturers are witnessing a surge in demand ahead of the festive season. The entry of new players like Ola has further fuelled consumer interest in the electric two-wheelers.