OPG Mobility Accelerates with Rs 400 Crore Expansion Plans

Electric vehicle manufacturer OPG Mobility seeks to raise Rs 400 crore for growth and expansion, rebrands to house two-wheeler division under 'Ferrato,' and enters the passenger electric vehicle segment. The company aims to strengthen its dealer network and reach 45,000 two-wheeler sales this year.

Electric vehicle manufacturer OPG Mobility, previously known as Okaya EV, is gearing up to raise approximately Rs 400 crore over the next 18-24 months to support its ambitious growth and expansion agenda, as revealed by Managing Director Anshul Gupta.

The rebranded company plans to launch a new two-wheeler lineup under the 'Ferrato' brand, introducing two scooters and one motorcycle this year. OPG Mobility will also venture into the electric passenger vehicle market via its 'OTTOPG' division, while expanding its sales and service network nationwide.

Gupta underscored the necessity of attracting private equity investment to de-risk this strategic expansion, with a focus on product diversification and an expanded dealer network. The company aims to reach 45,000 two-wheeler sales this year, leveraging its production facility in Baddi, Himachal Pradesh.

(With inputs from agencies.)