Okaya Group makes an entry in the EV two-wheeler domain
Okaya power group is the pioneer in the car, inverter, and UPS battery manufacturing company stationed in India. The company provides solutions to the modern power problem of a quickly evolving country.
Why is Okaya creating a hike in the EV world?
On Monday, Okaya group publicized its entry into the electric two-wheeler segment by launching a wide range of vehicles in the market. In a statement, the company also released an opening of additional three plants in Neram, Rajasthan by the year 2023-2025.
According to a report, the Indian E-two wheeler market was valued at USD 1.02 million in 2020, and it's likely to reach USD 2.08 million by 2026, projecting a CAGR of 12.69 % during the forecast period. (2021-2026).
Important notes of the release
- The company will be projecting the final output in two variants: AvionIQ and ClassIQ series
- The company assured the users that their two-wheeler is equipped with all standard requirements of the technology to deal with the increased volatility of Indian power conditions.
- The two-wheeler will touch a price of around 39,999-60,000 INR and will be made available all over the country. "Combined with two state-of-the-art R&D centers exclusively for EVs in India and one overseas, Okaya EV is uniquely placed to bring out e-2 wheelers and bikes of the future. Further, to ensure seamless supply of these vehicles, we aim to open showrooms as well as distribution and service centers all across the country," said Anil Gupta, Managing Director, Okaya Power Group.
- The company announced a launch of two experience centers to develop and foster customer relationships at Delhi and Jaipur. "Moreover, we have immediate plans to roll out four products under this segment in this financial year and all these products would be full "Made-in India" and add velocity to the government's dream of one crore e- scooters on Indian roads by 2025", Gupta said.
Other salient aspects of the release
1. Okaya addressed the cons of the e-two-wheeler that it had to face.
- Lack of the availability of good services and spare time.
- Proper infrastructure and finance issues.
- Most entrants introduce petrol-based vehicles in the market.
2. Okaya firmly affirmed that what matters the most in an e-vehicle is the battery, electronics, and software.
3. It has been present in the battery manufacturing industry for over three decades coupled with 35 years of electronics excellence through Microtek and 19 years of Okaya Infocom software experience, it added.
4. Okaya has been supplying EV batteries since 2016-17 and EV chargers, charging stations since 2019, thus emerging as a key player in India's mission to create EV charging infrastructure, it added.
Okaya has been extending its environmentally-friendly hand by developing the EV industry in India and thus making the stand of the Government of India even stronger. Until then, you'll have to wait further and analyze the growth of this organization.
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