Okaya Electric Vehicles, the EV arm of Okaya Power Group is planning to generate Rs 10,000 crore revenue and also sell 1 million electric vehicles in the coming 3 years.
Okaya EV has already sold around 1.70 lakh EVs after entering the electric vehicle market 9 months ago. As of now, the company has around 400 showrooms across India.
The company has electric vehicles including AvionIQ 100 and 150, ClassIcQ 100 and 150, and Faast e-scooters. Okaya EV is expanding its production capacity and plans to make 5 lakh electric vehicles annually in the coming 6 months. The current manufacturing capacity of the company is 1,80,000 EVs annually.
“We expect to close this financial year with Rs 2,000 crore revenue. Subsequently, we have targeted to sell over 10-lakh EVs in the next three years and achieve over Rs 10,000 crore revenue during this period through our EV arm,” says Anshul Gupta, Director, Okaya Power Private Limited.
Okaya EV uses around 70% of the components which are sourced in-house by the company. It will also launch various showrooms across the country.