Under its premium Ferrato brand, Okaya EV has unveiled the Disruptor, its newest electric motorcycle, which retails for Rs 159,999, ex-showroom. The company’s newest product, which will be produced in its Baddi, Himachal Pradesh, plant, is aimed towards youthful, enthusiastic two-wheeler buyers.
The company has spent about Rs 500 crore in the previous three years developing its goods, R&D, and charging infrastructure in addition to constructing this 10-million-unit yearly capacity. Okaya EV plans to construct an additional plant in Rajasthan, where it has already inked a deal for a block of land, after reaching 70–80% capacity utilisation in the next five years at its Himachal Pradesh facility, which is now operating at about 30% of its capacity.
With its 3.97kWh LFP battery pack, the new e-motorcycle claims an ARAI-certified range of 129 kilometres on a single charge. According to the manufacturer, the battery pack is ideal for the weather in India since it has a greater thermal runaway capacity of 270 degrees Celsius.
The motorcycle can reach a maximum speed of 95 kph thanks to a mid-mounted 6.37kW PMSM engine that drives the rear tyre. This motor is powered by the battery pack. The e-two-wheeler has three modes: Eco, City, and Sports. Its maximum torque is 228 Nm. The motorbike has alloy wheels, disc brakes and a telescopic front suspension. At the back, a mono-shock suspension is used.
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.
Without disclosing market share ambitions for its premium offering, Anshul Gupta, Managing Director, Okaya EV, said 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,” he said.
While it will have 11 new Ferrato outlets commissioned by End-May 2024, 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 per cent 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)