New Delhi-based Okaya EV has introduced its latest electric motorcycle – Disruptor – under its premium Ferrato brand at Rs 159,999, ex-showroom. The company is targeting young and enthusiast two-wheeler buyers with its latest product which will be manufactured at its plant in Baddi, Himachal Pradesh.
The company has invested close to Rs 500 crore over the last three years into establishing this 10-million-unit annual capacity, its products, R&D, and charging infrastructure. While the Himachal Pradesh facility is currently operating at around 30 percent capacity utilisation, Okaya EV aims to hit 70-80 percent utilisation in the next five years before adding an additional plant in Rajasthan, where it has already signed a pact for a land parcel.
Advanced product, big on tech
The new e-motorcycle boasts a 3.97kWh LFP battery pack that offers a 129km-claimed ARAI-certified range on a single charge. The company claims that the battery pack is well-equipped for higher thermal runaway at 270 degree Celsius, making it perfect for India’s weather conditions.
The battery pack powers a mid-mounted 6.37kW PMSM motor that drives the rear wheel and can propel the motorcycle to a top speed of 95kph. The e-two-wheeler comes with Eco, City, and Sports mode, and develops a peak torque of 228Nm. The motorcycle features disc brakes, alloy wheels, and a telescopic front suspension while a mono-shock suspension does duty at the rear.
It also features a digital-hybrid display, with GPS connectivity, geofencing, and find-my-vehicle functionality. The bookings for the e-motorcycle have begun, and Okaya EV aims to commence deliveries in 90 days.
Targeting 100 outlets, 2 new products
Without disclosing market share ambitions for its premium offering, Anshul Gupta, Managing Director, Okaya EV, told Autocar Professional that the company intends to offer an end-to-end premium experience to customers under its Ferrato brand. “We want to offer top-notch sales, and aftersales service experience to our customers. We will open 100 new Ferrato showrooms in key markets across the country by the beginning of Q2 FY25.”
While it will have 11 new Ferrato outlets commissioned by end-May 2024 itself, the company will continue to sell its other low-speed and mid-speed offerings under the Okaya EV brand itself. “We want to differentiate the two brands as we want to offer a premium experience under Ferrato. Overall, we are looking at a 6-8 percent market share for both Okaya EV and Ferrato over the next few years,” Gupta said.
For its Okaya EV brand, the company aims to expand its footprint from the existing 400 to 600 outlets by Q2 FY25. While it will continue to expand its portfolio across the two brands, the company will introduce another motorcycle and a premium electric scooter under Ferrato within this calendar year.
In April 2024, the Indian electric two-wheeler industry registered sales of 64,013 units, down 4% year on year (April 2023: 66,873 units). In April 2024, Okaya has registered retail sales of 372 units, which takes its cumulative sales in the January-April 2024 period to 2,843 units.
Of the electric motorcycle OEMs in the country, Revolt Motors is leading the market in the first four months of the year with 2,346 units, followed by Tork Motors (821 units), Ultraviolette Automotive (58 units)