OPG Mobility Targets Rs 200 Crore Revenue with New Electric Three-Wheelers

Key Highlights:

• OPG Mobility is targeting a revenue of ₹200 crore by FY25 through the launch of new products and its entry into the electric three-wheeler market.
• The company plans to introduce L3 and L5 e-rickshaws, along with two electric two-wheelers and two Ferrato motorcycles.
• It aims to expand into over 100 cities by 2025 with a refreshed brand identity.
• The improved battery technology enhances torque and range by 35-40% in its vehicles.
• By FY26-27, the company projects production of 45,000 units, with potential revenue of ₹450-500 crore.

OPG Mobility, the newly rebranded division of Okaya EV, has set a target revenue of Rs 200 crore by the end of FY 25. The company plans to achieve this goal by launching five new products and expanding into the electric three-wheeler market.

Expansion Plans with New Products

The Delhi-based company is considering introducing L3 and L5 e-rickshaws designed for passenger transport and cargo. The electric three-wheelers will be marketed under the OTTOPG name. These will be showcased at the upcoming Bharat Mobility Auto Expo 2025, alongside its refreshed electric two-wheeler lineup. 

The new electric two-wheelers will cater to entry and mid-segment markets, with two electric motorcycles also set to launch under the Ferrato brand. 

Mixed Performance in 2024

Anshul Gupta, Managing Director of OPG Mobility, reflected on the company's 2024 performance as a mix of achievements and challenges. The company sold nearly 15,000 units of both low-speed and high-speed electric two-wheelers and motorcycles. Gupta shared that the company focused on strengthening its core competencies, acknowledging that the year had been a learning experience.

Looking to the Future

OPG Mobility is optimistic about its future. The company plans to venture into the electric three-wheeler and e-rickshaw segments, expecting to reach a turnover of Rs 200 crore in FY 25. Gupta also projected an increase in production to 45,000 units by FY 26-27, which could bring in a turnover of Rs 450-500 crore.

Technology and Battery Improvements

The company has made significant progress in improving its battery technology. By implementing LFP technology and enhancing battery management systems, OPG Mobility has increased torque and range by 35-40%, even with lower-spec battery packs. Higher-spec battery packs will offer even better performance, particularly for their electric two- and three-wheelers.

Expansion and Rebranding

As part of its growth strategy, OPG Mobility plans to roll out its new branding in over 100 cities by 2025. The rebranding includes a comprehensive visual overhaul across its entire product line, which aims to effectively communicate the company’s identity and values to modern consumers.

Also Read: FADA Sales Report December 2024: Three-wheeler (3W) sales decreased by 4.57% YoY

CMV360 Says

OPG Mobility has clear plans for growth, with a focus on electric three-wheelers and improved battery technology. Their goal of reaching Rs 200 crore in revenue by FY 25 shows they are aiming high. With new products and rebranding on the way, OPG Mobility is set to make a strong impact in the electric vehicle market if everything goes as planned.