Okinawa Autotech has reported revenues of Rs 1.55 billion and sales of 30,930 units of electric two-wheelers in FY21.

The company has undertaken a Block Closure from May 18 to May 22 due to the rise in COVID-19 cases in the state. The company will use the time to conduct its annual maintenance activities.

Vehicle production in China fell from 69.8% to 6.8% in April 2021. The global shortage of semiconductors is believed to be the major reason behind the slump.

As per the data reported by SIAM in the Auto Industry Sales Performance, the total production of passenger vehicles, three-wheelers, two-wheelers and quadricycles in April 2021 was 1,875,698 units.

The company reported its worst performance in 12 years due to COVID-19 and the global semiconductor shortage. The Japanese carmaker has not reported a profit since the year ending March 31, 2019.

As India is reeling under the COVID-19 second wave, the ever-increasing demand for medical oxygen across the country has forced the Centre to impose restriction on its industrial use.

The top auto players anticipate challenges in the areas of dealership activity, supply chain and customer movement. Analysts expect the impact of the second wave on the auto sector to be considerable.

The company also plans to upgrade sales networks and increase production in the country. It intends to introduce a new MPV early next year after India recovers from the second wave of COVID-19 impact.

This lecture part of SIAM’s ‘Walk the Talk’ campaign, highlighting the importance of design, development, testing and homologation aspects of hybrid and electric vehicles.