Okaya EV enters premium segment for two-wheelers with new brand 'Ferrato'

Okaya EV enters premium segment for two-wheelers with new brand 'Ferrato'

Expanding its footprint in the country, Okaya EV, an electric two-wheeler manufacturing company, has unveiled “Ferrato” – a brand for its premium electric two-wheeler products. Ferrato‘s customer experience centers will start operations with a new product portfolio, focusing on the high-end models, the company said.

“Ferrato is set to redefine the electric two-wheeler landscape by ensuring that each product not only provides an exhilarating ride but also exudes intelligence, strength, and power,” the EV company said in an official release.

The new premium brand is set to unveil a range of high-end two-wheelers, comprising three electric motorcycles and one electric scooter. Ferrato will maintain a separate network within Okaya’s extensive dealer network, ensuring customers receive an exclusive range of models and unparalleled service.

“Ferrato’s establishment aims to provide a premium experience to consumers and marks a significant milestone for Okaya EV as we continue to expand our footprint in the sustainable mobility landscape. With a dedicated team overseeing sales, customer operations and service centers, we plan to establish over 100 partners for Ferrato, focusing on positioning it as a premier choice for discerning riders seeking the perfect fusion of passion and performance,” said Anshul Gupta, Managing Director of Okaya EV.

The overall market for Electric two-wheelers (e-2Ws) sales in India have increased in the current financial year despite the reduction in FAME subsidies, data showed.

As per the Ministry of Heavy Industries, 734,760 e-2Ws units have been sold in the financial year 2023-24 up to February 6, 2024, compared to 728,271 units in the previous financial year 2022-23.

“The reduction in subsidy has not deterred the sales of electric two-wheelers, indicating a robust and resilient market,” said Minister of State for Heavy Industries, Krishan Pal Gurjar, in a written reply in the Rajya Sabha recently.