Okinawa Autotech to invest Rs 500 crore to set up manufacturing plant in Rajasthan
Electric two-wheeler maker Okinawa Autotech on Wednesday said it will invest Rs 500 crore to set up a new manufacturing plant at Karoli in Rajasthan. Spread across 30 acres of land, the factory will have an annual production capacity of 10 lakh units and will be fully operational from October 2023, Okinawa Autotech said in a statement.
The plant will employ more than 5,000 people. This will be the third plant of the company apart from the two manufacturing facilities at Alwar in Rajasthan, it added.
“As the market leader in the electric two-wheeler segment, we are committed to addressing the most significant issues faced by the sector. The R&D facilities planned in the mega factory will be futuristic to ensure we meet the sector’s demand ahead,” Okinawa Autotech founder and MD Jeetender Sharma said.
