OPG Mobility Plans Major Expansion in EV Market
OPG Mobility, formerly known as Okaya EV, is setting ambitious goals for its future in the electric vehicle (EV) sector. The company aims to raise approximately Rs 400 crore over the next 18 to 24 months. This funding will support its growth plans, which include expanding its product portfolio and enhancing its sales and service network across India. Anshul Gupta, the Managing Director of OPG Mobility, shared insights into the company’s strategies and upcoming product launches. As the EV market continues to grow, OPG Mobility is positioning itself to capture a larger share of this dynamic industry.
Strategic Funding for Growth
To fuel its expansion, OPG Mobility is actively seeking investment from private equity sources. Gupta emphasized the importance of attracting both strategic and non-strategic investors. He believes that securing around Rs 400 crore will provide a solid foundation for the company’s long-term growth. The focus will be on creating a robust product distribution and service network, which Gupta describes as a way to mitigate risks for potential investors.
The company has recently undergone a rebranding exercise, which includes the introduction of its two-wheeler division under the ‘Ferrato’ brand. This rebranding is part of a broader strategy to enhance its market presence and attract new customers. Gupta stated that OPG Mobility is committed to building a strong partnership network with dealers, which will further support its growth objectives. By creating a separate entity for its product lineup and focusing on risk management, OPG Mobility aims to instill confidence in its investors.
Upcoming Product Launches
In line with its growth strategy, OPG Mobility plans to launch several new products this year. Gupta announced that the company will introduce two new electric scooters and one electric motorcycle with two variants. The first scooter is set to launch in January, followed by another in the second quarter of the year. Additionally, the three-wheeler division, branded as ‘OTTOPG,’ will enter the electric passenger segment this year.
The company has already launched e-rickshaws and L5 cargo vehicles, and it plans to capitalize on this momentum by introducing passenger variants. Gupta’s vision includes targeting urban, semi-urban, and rural markets with tailored product offerings. This approach aims to meet the diverse needs of consumers across different regions. The successful launch of these products is crucial for OPG Mobility as it seeks to regain momentum in a competitive market.
Expanding Sales and Service Network
To support its ambitious sales targets, OPG Mobility is also focused on expanding its sales and service network. Currently, the company has over 350 dealers in the two-wheeler segment. Gupta aims to increase this number to approximately 550 dealers for both two-wheelers and three-wheelers combined. This expansion will enhance the company’s reach and improve customer access to its products.
In addition to dealer partnerships, OPG Mobility plans to add around 600 authorized service partners to manage service centers across India. This initiative is vital for ensuring customer satisfaction and maintaining the quality of service. Gupta highlighted that the next two to three years are critical for the company, as it focuses on rebranding and launching new models. The target for this year is to sell 45,000 units of two-wheelers and 15,000 units of three-wheelers, a significant increase from the previous year’s sales figures.
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