Gurugram-based Okinawa Autotech is a fast-growing player in India’s evolving electric vehicle (EV) market. With its manufacturing facility in Bhiwadi, Rajasthan, this electric two-wheeler manufacturing firm sold approximately 10,000 e-scooter units in 2017; the figure went up to above 25,000 units till November last year. “Okinawa’s products are the ideal combination of sustainability, performance and environmental viability,” says Jeetender Sharma, founder, Okinawa, in interaction with Sudhir Chowdhary. Excerpts:
What motivated you to enter the electric mobility sector?
While the electric mobility sector has had immense potential since its very inception, it has always been susceptible to challenges such as lack of performance, obsolete technology and insignificant appeal. The inception of Okinawa in 2015 as a 100% Indian electric two-wheeler manufacturer completely changed the EV scenario. The motivation was pretty straightforward: usage of EVs is not only economical but also helps in curbing pollution to a substantial extent.
Combining our massive on-ground research with cutting-edge technological excellence, Okinawa’s products were developed as the ideal combination of sustainability, performance and environmental viability. The name was derived from the Okinawa islands in Japan, which are one of the cleanest and most efficiently run places in Japan.
What have been the critical milestones of your company?
Considering that Okinawa is still in its budding stages, it has achieved a lot in 2018. We launched the Ridge+ scooter with detachable li-ion battery which make the charging as convenient as charging our mobile phones. We entered into partnerships with government organisations like Delhi Transport Corporation (DTC) wherein we got the support from 48 depots of DTC for creating awareness about electric vehicles in Delhi.
Okinawa’s i-Praise scooter became the first electric scooter globally to reach the roof of the world. The company sold around 12,000 units within two months (September-October) last year. Okinawa became the first electric two-wheeler brand to partner with Tirupati Smart City Project by delivering 105 units of i-Praise with customised features and accessories.
Additionally, Okinawa launched its #TheIntelligent Scooter i-Praise in January 2019. This intelligent scooter is connected through mobile and has features like geo-fencing, immobilise, driver score, alerts, monitoring, tracking, etc.
How has the market responded to Okinawa products?
Okinawa Scooters launched five EVs including both high-speed and low-speed versions in the last two years. We sold 10,000 units in 2017 and marked its viability with a network of 250-plus dealers across India in 2018, along with selling about 25,000 units till November 2018.
Are you planning to raise funds from investors? If yes, when?
Okinawa is essentially self-funded, backed by formal sector banks. Till now, we have invested more than `100 crore in infrastructure, manufacturing processes, product development, R&D, sales, marketing, dealer expansion. But we are certainly open to and are planning to raise funds from investors soon.
How do you see the electric vehicle segment growing in the next few years?
One of the major challenges faced by the EV industry is people’s perception towards it. Lack of a charging infrastructure, hike in prices, less-efficient functioning are some of the major concerns that lead to commuters choosing fuel-based mode over such sustainable alternatives.
By introducing new policies and measures such as the Faster Adoption and Manufacture of (Hybrid &) Electric Vehicles (FAME) scheme on a national level, the central government is encouraging electric mobility by providing incentives. This has definitely helped boost the sales of EVs across the country as the subsidised amount caters to people’s concern regarding the higher prices.
What are the growth plans for the next five years?
Okinawa aims to become India’s premier EV manufacturing brand driving a transformation in the current transportation landscape. Our goal is to mark the country’s presence as a major producer and exporter of eco-friendly vehicles.