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Electric two-wheeler maker Okinawa Autotech announced it will invest Rs 500 crore to set up a new manufacturing plant at Karoli in Rajasthan. Okinawa Autotech is based out of which country?

A.
China
B.
South Korea
C.
India
D.
Japan

Solution:

The correct answer is India. Electric two-wheeler maker Okinawa Autotech said it will invest Rs 500 crore to set up a new manufacturing plant at Karoli in Rajasthan. The factory will have an annual production capacity of 10 lakh units and will be fully operational from October 2023, said officials from Okinawa Autotech. Gurugram-based Okinawa was formed in the year 2015. The company launched electric scooters that came with detachable Li-ion batteries, which enabled buyers to charge their scooter batteries anywhere and at any time. Jeetender Sharma is the Founder & MD, and Rupali Sharma is the Co-Founder & Director of the company. Additional InformationRajasthan Electric Vehicle Policy (REVP)In July 2021, a notification was issued by the Transport Department of Rajasthan, which said that electric vehicle purchasers will be reimbursed the State Goods and Service Tax (SGST) amount besides receiving a one-time grant from the government. Reimbursement of Rs 5,000 10,000 via SGST was announced by the state government for electric two-wheelers and Rs 10,000 20,000 for electric three-wheelers. The grant was to be available only to those purchases that were made between 1st April 2021 and 31st March 2022 and registered till March 2022. The EV purchase should also have happened in Rajasthan only.

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