Okaya EV’s new brand identity, OPG Mobility, eyes Rs 200 cr revenues by FY25, with five new products & entry into electric three-wheelers.
07 Jan 2025 | 4226 Views | By Amit Vijay M
OPG Mobility, the recently rebranded division of the Delhi-based electric two-wheeler company Okaya EV, is targeting a revenue of Rs 200 crore by the end of FY 25. The company plans to pursue this goal through the launch of five new products and an expansion into the electric three-wheeler sector.
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OPG Mobility, the recently rebranded division of the Delhi-based electric two-wheeler company Okaya EV, is targeting a revenue of Rs 200 crore by the end of FY 25. The company plans to pursue this goal through the launch of five new products and an expansion into the electric three-wheeler sector.
Senior executives from the company shared with Autocar Professional that the Delhi-based firm plans to introduce L3 and L5 e-rickshaws designed for passenger transport and cargo. It also plans to showcase them at the upcoming Bharat Mobility Show along with its refreshed electric two-wheeler product line.
Anshul Gupta, Managing Director of OPG Mobility, detailed the company's strategy to roll out two new electric two-wheelers aimed at the entry and mid-segment markets and two electric motorcycles under the Ferrato brand. The electric three-wheelers will be marketed under the OTTOPG name.
Reflecting on the previous year, Anshul described it as a mixed experience, with the company selling nearly 15,000 units of both low-speed and high-speed electric two-wheelers and motorcycles.
He acknowledged a comprehensive restructuring of their product lineup, stating, "The year 2024 has been a learning experience for us, characterised by both achievements and challenges. Although we could have performed better, we decided to concentrate on our core competencies.”
With its new brand identity OPG Mobility, the company is bullish on its future prospects as it is looking to venture into the electric three-wheeler and e-rickshaw segments, he added.
Looking ahead, he expressed confidence in reaching a turnover close to Rs 200 crores in the current fiscal year. Gupta also projected an increase in production to around 45,000 units by FY 26-27, which could potentially raise the turnover to over Rs 450-500 crores in the following fiscal year.
“Our growth will be propelled by the OPG Mobility brand, which seeks to merge cutting-edge technology with a strong dedication to environmental sustainability.”
Anshul emphasised that the new branding not only enhances the product range but also boosts the power of the current battery packs.
The company said that it has made significant strides in implementing LFP technology through improved battery management systems, achieving a torque and range increase of 35 to 40 percent, even with lower-spec battery packs. For higher-spec battery packs, even greater performance is anticipated, especially for the company's electric two- and three-wheeler offerings.
OPG intends to roll out the new branding in more than 100 cities by 2025, to effectively convey its identity and value proposition to contemporary consumers through a comprehensive visual overhaul across its entire product line.