“Future is Electric” , this is probably the most common phrase we get to hear in the automotive industry lately and its hard to deny it with so many new EVs coming up . India is one of the key markets for EVs with a CAGR of 22.1% between 2020 and 2030 . Many new brands are consolidating themselves for meeting this expected demand in the very near future . One such brand is Okinawa Autotech Pvt. Lmt, a 100% Indian Electric 2 wheeler manufacturer established in 2015. Here’s a gist of our discussion with Mr. Jeetender Sharma , Managing Director of Okinawa about the brand and their plans ahead .
- How has the company grown over the period? Do you think the EV market is growing?
Okinawa started in 2015. We spent our initial two years in research and development, launching our first product in 2017. Since then our array of offerings has only grown. Today we offer 9 products in slow speed and high-speed e scooter, in both, lithium ion and lead acid versions. We have already sold over 65000 units since inception. This is the response received from the market. People are ready to move towards a safer tomorrow with e-mobility. And the demand is only going to grow with time.
- How has COVID 19 impacted sales?
COVID 19 outbreak impacted all the industries. During lockdown entire market came to a standstill situation. However, post lockdown got lifted we have witnessed a hike in demand for our products. Within a month of resumption of operation, we sold around 2000 units.
- What are the technological advancements at Okinawa?
We have developed IPs like detachable lithium ion batteries to allow our consumers the convenience to charge anywhere anytime. We have also developed Ips for indigenous technologies like micro-processor controller, permanent magnet BLDC motor.
- How many dealerships do you have currently?
We are operating through a network of 350+ dealerships in India. We plan to expand across the country and reach a number of 500+ dealerships by the end of financial year.
- Are you planning to begin online sales also?
We launched our online website in May this year. COVID 19 outbreak has increased the importance of digital in every industry. We launched the website with the idea to reduce contact in the vehicle buying process. Until now we have already received 500 booking through the website alone.
- What’s next from Okinawa?
Okinawa is planning to launch its first electric bike in the Q3 this year. It is going to be a 100 per cent made in India product. We believe that the players in the industry need to localize the products. This product is a step towards the same.
- Which are your top selling products?
PraisePro and R30 are our top selling products
- What are your targets for this fiscal?
We target to retail over 40,000 units this fiscal
- Your opinion on EV policies by the government
We think EV policies are going in the right direction. We need to promote EVs among buyers and motivate manufacturers to localize. Recently announced, Delhi EV policy is the best example to how the government is aggressively working towards promoting e-mobility. The policy includes incentives, waivers and subsidy. It also considers scrappage of old ICE vehicle. And all this is over and above the benefits provided by FAME 2 policy. Not just at the center government but also at state levels, the mission of e-mobility has inspired all.