Okinawa Autotech Invests Rs 200 Cr to Set up New Plant

AUTO

Electric scooter maker Okinawa Autotech is investing Rs 200 crore to set up a new manufacturing plant with an annual capacity of one million units, preparing to meet increased demand following the implementation of FAME II scheme, a top company official said.

The new plant at Alwar in Rajasthan is being set up with 5 lakh units per annum capacity and will be ready by the end of this fiscal to add to the existing volume of 90,000 units a year.

“As on today, our capacity in a single shift is 90,000 units per year. If the market demand grows we can increase it to 1.8 lakh units in double shift. We are also working on a new facility. Our new plant will be operational by the end of this fiscal year,” Okinawa Autotech Pvt Ltd Founder and Managing Director Jeetender Sharma said.

The new unit will have a total installed capacity of up to one million vehicles annually and that would be ramped up in a phased manner. “In the first phase we are looking at around 5 lakh units annually that will be ready by the end of this fiscal. The second phase will be in the next financial year,” Sharma said.