Bolstered by Gujarat EV policy! Okinawa Autotech plans to tap e-scooter market, triple customer base by 2022

Bolstered by the Gujarat government's electric vehicle policy, Okinawa Autotech is looking to aggressively tap the e-scooter market in the state and plans to triple its customer base by 2022.

Okinawa, being a member of the Gujarat Energy Development Agency, is also working towards faster adoption of the EVs in the State, the company said on Friday.

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One of the top players in the fast growing domestic EV space, Okinawa currently has six electric scooters, three each in high and low-speed range, with price ranging between Rs 50,000 and nearly Rs one-lakh.

The Gujarat government's electric vehicle policy offers a subsidy of Rs 10,000/kwh. EV buyers will get a subsidy of up to Rs 20,000 for e-two-wheelers, up to Rs 50,000 for e-three-wheelers and up to Rs 1.5 lakh for 4-wheelers. The subsidy will be credited directly to the beneficiary account via Direct Benefit Transfer (DBT), among others.

"Okinawa plans to capture a significant market share in Gujarat with its affordable e-scooters, where it currently has a customer base of over 5,000. It is optimistic to triple the numbers (of customers) by 2022.

Besides, it has a strong network of dealerships which it aims to expand by 50 per cent by the end of the current fiscal year," Okinawa Autotech said in a release.

According to the company, it has been seeing good traction for its high-speed scooters (Ridge+, Praise Pro, and iPraise+) pan-India and added that the recent price cut has made the brand more affordable.

"The state government has made an exceptional move that would allow more buyers from the bottom of the pyramid to ride and prosper with e-two-wheelers.

"To help the state achieve its goal of having two- lakh EVs on the road in the next four years, we are also extending our presence and footing in the region," said Jeetender Sharma, MD & Founder of Okinawa Autotech.

The company said it partnered with several banks, Non-Banking Financial Companies (NBFCs), Fintech and leasing and retail companies, adding that it aims to make it easy and well within the reach of every single person to possess Okinawa scooters.