Okinawa Autotech, an electric two-wheeler manufacturer, has doubled its planned investment to expand operations and is in the final stages of talks with private equity firms to sell a minority part in the company to raise financing.
Okinawa, India’s second-largest electric two-wheeler manufacturer, is now aiming to invest between Rs 800 and Rs 1000 crore to double its manufacturing capacity to 2 million units per year, including increasing the capacity of motors and batteries.
The postponement of talks with private equity firms, which had been ongoing since the middle of last calendar year, was due to a rebalancing of spending. The company, which had previously been bootstrapped, had planned to raise approximately 500 crore through the IPO.
