Huge opportunity in EV space; will produce 250,000 vehicles next year: OK Play India

OK Play India reported a steady of numbers with revenues jumping 36 percent. In an interview to CNBC-TV18, Rajan Handa, MD of OK Play India decoded the earnings fine-print and also spoke about opportunities in the electric vehicle (EV) space.

We have set up manufacturing facilities in conjunction with our manufacturing partners across the country. We have seven facilities up and running and all of them are producing the same products with the same equipment using the same components. These are all dedicated EV facilities, he said.

We have done test marketing on EV and we have about 46 showrooms operating which deal only with OK Play EVs, he added.

The average price per vehicle is Rs 1,25,000, when I am talking about an e-rickshaw. There is a lot of opportunity also in the retail market because this is a natural upgradation from cycle-rickshaw or using a petrol/diesel alternative, said Handa.

We are being conservative about numbers because the opportunity is humongous, the capacities that we have created now would allow us to produce in the next year 250,000 vehicles. We have also tied up with one of the leading non-banking financial companies (NBFCs) to get these vehicles financed for the end-user, he further mentioned.

I would look at 10,000 units coming on a monthly basis down the line, Handa said.

For full interview, watch accompanying video...