OPG Mobility, formerly known as Okaya EV, has announced plans to raise ₹400 crore over the next 18–24 months to support its growth initiatives, including product portfolio expansion and network enhancement. According to a company press release, this funding will primarily target the development of new electric vehicle (EV) models and the expansion of its distribution and service network across India.
The company’s two-wheeler division will operate under the rebranded name “Ferrato” and is set to introduce two new electric scooters and an electric motorcycle with two variants within 2025. In addition, the three-wheeler division, branded “OTTOPG,” will enter the electric passenger vehicle segment with two new products. Existing offerings, including e-rickshaws and L5 cargo vehicles, are already available in the market.
OPG Mobility aims to increase its dealer network from the current 350 to approximately 550 partners across two- and three-wheeler segments. Additionally, the company plans to establish 600 authorized service partners to improve after-sales service accessibility.
On the production front, OPG Mobility operates a manufacturing plant in Baddi, Himachal Pradesh, with an annual capacity of 300,000 units, sufficient to meet current demand projections. Sales targets for 2025 include 45,000 two-wheelers and 15,000 three-wheelers. In 2024, the company reported two-wheeler sales of 15,000 units, a decline from its previous peak of 30,000 units in earlier years.
The company stated that funds raised would come from private equity investors, with efforts to create a robust distribution and service infrastructure to attract potential investment. The initiative is part of OPG Mobility’s broader strategy to position itself for long-term growth in the evolving EV market.