Okinawa Autotech aims to clock Rs 465 crore revenue in FY 22

Okinawa Autotech,  a leading electric vehicle (EV) manufacturer has announced a range of milestones achieved over the last financial year, as well as the roadmap for the ongoing financial year. The company clocked annual revenue of Rs 155 crore in FY 2021 and aims to increase it by 300% in FY 22 to Rs 465 crore. 

This will be done on the back of a strong product innovation ecosystem, geographical expansion, and the rising adoption of e-mobility in the country.

For FY 21, the company sold 30,930 units, targets three folds increase  in the number this fiscal year. During this period, Okinawa Praise pro was the most selling electric scooter by the company. Staying true to its commitment for continuous innovation, Okinawa also launched the Okinawa Dual - India’s first customizable B2B electric two-wheeler to propel ‘services on wheels’ last year. The company currently has a strong dealership network across Delhi, Bangalore, Noida, Jharkhand, and Assam. It also has been constantly expanding its footprint to the other Indian states, in order to serve many more Indians who are looking to contribute to a greener future on this planet.

In order to make e-mobility more accessible and affordable for end consumers, Okinawa has also forged strategic partnerships with financial institutions and e-commerce companies such as Edelweiss, Credr, Zest money, welectric, and Beep cart. Many of Okinawa’s products are also being deployed as last-mile delivery vehicles by B2B logistics companies. The company has also iterated its commitment to invest Rs 150 crore during the financial year to grow its product portfolio and on-ground footprint. 

Summing up the performance of FY 21 and the roadmap for FY 22, Jeetender Sharma, MD & Founder of  Okinawa said, The last year has been tough for the entire automobile industry. It was indeed a setback for us at Okinawa, as for any other company. Having said that, we are glad to share that we managed stable growth and continued to make a mark in India's electric vehicle revolution, even in such difficult times. Okinawa is planning to sell three times the scooters that we sold in 2020. As the ecosystem strengthens further, we are absolutely bullish about our growth prospects in FY 22.”