Electric vehicle (EV) maker OPG Mobility (formerly Okaya EV) is planning to raise Rs 400 crore in the next 18 to 24 months to fund its growth plans. Managing Director of the company, Anshul Gupta said that the company intends to expand its portfolio and network.
OPG Mobility MD said that the company has recently gone through a rebranding process. The company’s two-wheeler business will be under the ‘Ferrato’ brand and this year the company plans to launch two new electric scooters and an electric motorcycle in two versions. The company’s three-wheeler business will be under the ‘OTTOPG’ brand. The company will enter the electric passenger segment this year.
He told that the company is going to expand its sales and service network across the country. For this, it is in the process of adding long-term investors. “Our idea is to get private equity, be it strategic investors or non-strategic investors, either one. “Then we will move forward and be successful in the long run.”
When asked if OPG Mobility is looking to raise capital for its growth plans, OPG Mobility MD said that we are looking to raise Rs 400 crore in 18-24 months. We want to build a strong product distribution and service network, leaving no risk for investors.
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