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Okaya EV plans market expansion, to launch 4 electric two-wheelers in 2025

OPG Mobility plans to raise around Rs 400 crore in the next 24 months which will be utilised for product development and market expansion. It targets semi-urban markets for growth

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Shubham Parashar New Delhi
3 min read Last Updated : Jan 13 2025 | 5:10 PM IST
 
OPG Mobility from Okaya EV is set to electrify the two-wheeler market in 2025 with a lineup of four premium electric models. The first of these will debut this month at the Bharat Mobility Global Expo 2025, offering a glimpse into the company’s ambitious vision. The new electric scooter is expected to be priced around Rs 1.20 lakh (ex-showroom) and will rival the likes of the Ather Rizta and Bajaj Chetak among others. OPG will launch three more models later this year including an electric motorcycle. Backing its aggressive product strategy, the company plans to raise around Rs 400 crore over the next 24 months which will be utilised for product development and market expansion.
 
Backing its aggressive product strategy, the company plans to raise Rs 400 crore over the next two years. This funding will fuel not just product development but also the brand’s efforts to expand its footprint in the growing EV market.
 
With these strategic moves, OPG Mobility is positioning itself as a key contender in India’s electric two-wheeler space, blending innovation with market-savvy ambitions.
 
Speaking with Business Standard, Anshul Gupta, managing director, Okaya EV, said the company is focused on two and three-wheelers. “A new brand, separate product lineup, four new products we can be expecting this year. We are launching in Bharat mobility, our new Defy 22 and we will also be showcasing our upcoming products, which will be displayed as concepts. We will be displaying the prototypes, so that the consumers and the industry can have a feel of where we are transitioning and heading towards.”
 
Electric two-wheelers are rapidly gaining traction in India’s Tier-II and Tier-III markets, where semi-urban buyers favour them for short-distance commutes. This growing trend is expected to accelerate in 2025, with electric scooters becoming a preferred choice for personal mobility. OPG Mobility is tapping into this opportunity, projecting that small towns will contribute to nearly 60 per cent of its sales. Currently, OPG operates primarily in the northern and eastern India, supported by a network of 350 dealerships.
 
Fair share from semi-urban markets (in terms of sales) should be around 60 per cent, believes Gupta.

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“So we have targeted around 600 dealerships. We have made around 100 in the last three months in selective markets to the pilots where the Authorised Service Partner Program is being done. So in two-wheeler space, we're targeting around 600 this calendar year, and the markets remain north east, west and south. Within those frameworks, we are more predominantly present in the north and east. The idea this year is to focus also on the west and south market, where they have not been as a very strong player in the past,” Gupta said.
 
OPG has an annual production capacity of around 3,00,000 units at its manufacturing plant in Baddi, Himachal Pradesh and it currently utilises around 10 per cent of its capacity. The company is also working on gaining the confidence of its dealer partners. It has adopted a self-penalty practice at its plant where the dealer is rewarded if the company fails to dispatch the order within 24 hours of receiving the payment.

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Topics :Auto ExpoOkaya PowerElectric VehiclesAuto industry

First Published: Jan 13 2025 | 4:59 PM IST

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