Electric two-wheeler manufacturer Okinawa Autotech on Wednesday said it will invest €25 million (over ₹220 crore) in the next three years in the development of an all-new products and powertrains, and to support the next generation of products.
The company has started its first research and development (R&D) center in Italy, in association with its joint venture partner Tacita.
Apart from the new powertrain, the global R&D center will further focus on new product development and upgrading the existing product portfolio, the company said in a statement adding that the center will employ nearly 50 specialists both from India and across the world.
It will also start its employee exchange program with Tacita to nurture the employees’ skills both at domestic and international levels.
“The company has invested ₹500 crore along with our key stakeholders towards the development of new products, manufacturing facilities, network expansion and brand building over the past five years. Setting up the global R&D center showcases our ambition to bring the best technologies from the entire world to our Indian customers,” said Jeetender Sharma, Managing Director and Founder, Okinawa Autotech.
The first product designed at the global center will be an electric cruiser motorcycle that is scheduled to be unveiled in the coming months in India. The motorcycle will be equipped with the latest EV technology and best-in-class performance amongst the motorcycle segment globally, he added.