Okinawa Says to Invest Rs. 500 Crore to Set Up EV Manufacturing Plant

Electric two-wheeler maker Okinawa Autotech on Wednesday said it will invest Rs. 500 crore to set up a new manufacturing plant at Karoli in Rajasthan.

Spread across 30 acres of land, the factory will have an annual production capacity of 10 lakh units and will be fully operational from October 2023, Okinawa Autotech said in a statement.

The plant will employ more than 5,000 people. This will be the third plant of the company apart from the two manufacturing facilities at Alwar in Rajasthan, it added.

"As the market leader in the electric two-wheeler segment, we are committed to addressing the most significant issues faced by the sector. The R&D facilities planned in the mega factory will be futuristic to ensure we meet the sector's demand ahead," Okinawa Autotech founder and MD Jeetender Sharma said.

The factory will not only concentrate on the manufacturing of vehicles, but it will also have a supplier park that will take into account motors, controllers, battery packs and other electrical parts meant to support the complete EV ecosystem, he added.

This plant will have an in-house automatic robotic battery manufacturing unit along with a motor and controller Plant, the company said, adding there would also be robotic automation of plastic body parts moulding and a state-of-the-art paint shop to facilitate the localisation in the production process.

Okinawa said the manufacturing of the entire range of scooters and motorcycles under its current joint venture with Tacita, meant for domestic as well as international markets, will be done at the new plant.