January 13th, 2025
OPG Mobility, formerly known as Okaya EV, is gearing up for significant growth in 2025. The company plans to raise ₹400 crore over the next 18–24 months to fund its ambitious product expansion and network enhancement. By launching two new electric scooters, an electric motorcycle, and entering the electric passenger three-wheeler segment, OPG Mobility is setting the stage to capture a larger share of India’s rapidly growing electric vehicle (EV) market.
Expanding the Product Portfolio
Two New Electric Scooters
- The first electric scooter will launch in January 2025, while the second is scheduled for the second quarter.
- These scooters will focus on combining affordability with features tailored for urban commuters.
Electric Motorcycle
- OPG plans to release an electric motorcycle in two variants, designed to cater to both enthusiasts and daily riders.
Passenger Three-Wheelers
- The company will enter the L5 segment with two models of electric autorickshaws, targeting the growing demand for sustainable urban transport.
By diversifying its product lineup, OPG Mobility is ensuring it appeals to a wide range of consumers, from personal users to commercial operators.
Rebranding for Focused Growth
OPG Mobility has undergone a strategic rebranding to streamline its operations and target specific market segments effectively:
- Ferrato: The brand for electric scooters and motorcycles, focused on two-wheeler innovation.
- OTTOPG: Dedicated to three-wheelers, addressing both passenger and cargo needs.
Expanding Dealer and Service Networks
- Dealer Network: Plans to increase the number of dealerships from 350 to 550, with a focus on Tier II and Tier III cities.
- Service Partners: Aims to add 600 authorized service centers, ensuring comprehensive after-sales support.
These initiatives aim to create a robust ecosystem that enhances the overall customer experience.
Strategic Funding to Fuel Expansion
OPG Mobility plans to raise ₹400 crore to achieve its ambitious goals. The company seeks both strategic and non-strategic investors to support its vision.
Anshul Gupta, Managing Director of OPG Mobility, stated:
“We are building a strong and reliable product distribution and service infrastructure. This approach makes our company risk-free and attractive for investors.”
The funds will support:
- Product Development: Launching and scaling new products in multiple EV categories.
- Dealer Network Growth: Strengthening the reach of Ferrato and OTTOPG brands.
- Manufacturing Enhancement: Expanding operations at the Baddi plant to meet increasing demand.
Challenges and Opportunities
Challenges
- Sales Recovery: A decline in two-wheeler sales during 2024 highlights the need for innovative, customer-focused products.
- Rebuilding Trust: The company’s rebranding efforts must resonate with both existing and potential customers.
Opportunities
- Market Potential: A target of 45,000 two-wheeler sales and 15,000 three-wheeler sales in 2025 demonstrates OPG’s confidence in its market strategy.
- Strong Manufacturing Base: The Baddi plant provides the capacity to meet aggressive sales and production goals.
Impact
OPG Mobility’s strategic efforts to expand its product portfolio and dealer network reflect its commitment to driving EV adoption in India. The planned launches, coupled with an emphasis on customer support and affordability, position the company to capture key segments of the market.
As India’s EV industry grows rapidly, OPG Mobility’s innovative approach and strategic funding plans make it a critical player in shaping the future of sustainable transportation.
