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Okinawa Scooters on Its Plans of Producing 10 Lakh Electric Scooters Annually in India

Okinawa Scooters is in second position in the electric two-wheeler market in India.

When you hear of Okinawa Scooters, it doesn't immediately align as an Indian brand. Co-founder Jeetender Sharma was so inspired by his visit to the environmental-friendly Okinawa Islands in Japan, that he decided to come back and begin an electric vehicle startup in the country, in the hopes to push the country to make conscious choices. When we think of electric vehicles, we think of Ather and Hero Electric as the top brands in the EV space, but Sharma's Okinawa Scooters is in the second position in the electric two-wheeler market, just behind Hero Electric with more than 90,000 scooters on the road

According to a recent Autocar Professional report, Hero Electric continued to retain its leadership position in 2020 with sales of 8,111 units followed by Okinawa Autotech with 5,564 units. While the pandemic last year ruffled the EV growth trajectory with factories asked to shut down, Okinawa Scooters plans to target three times growth in sales this year over the last one. Sharma looks to invest Rs. 150 crores to set up a new manufacturing facility in Rajasthan that will initially have an annual capacity to produce as many as 500,000 to 600,000 electric two-wheeler units in the first phase, and up to 1,000,000 units in the future. The company is also looking to introduce an e-motorbike into the Indian market soon.

Expert Opinion: Counterpoint Research Analyst, Soumen Mandal feels like EV startups will be impacted due to the second COVID-19 wave in India. He says, “High-speed electric two-wheeler (e2W) sales in India decreased by 5% to reach 25735 units in 2020. However, e2W penetration of total two-wheeler sales increased slightly during last year. Cumulative sales of e2W since 2019 stands at 52959 units at the end of 2020, but only 31813 units qualified for the FAME II scheme. Only 10 two-wheeler brands qualify for getting FAME II subsidy. Under the FAME II program, the Indian government tried to sell 1 Mn e2W by March 2022, but it couldn't encourage consumers. The stringent criteria aren't helping local manufacturers with lower scale and consumers are not finding e2Ws affordable as well. More investment in establishing public charging stations and direct benefit to consumers will help to shift from conventional fuel bikes to e2Ws.”

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