Okaya Power Pvt. Limited (Okaya), India’s third largest power back up company, which recently announced its ambitious foray in Lithium ion batteries segment, has big plans to grab majority of market share in Lithium ion batteries. Okaya with it’s turnover of Rs 720 crores in FY 17-18, aims to clock Rs 1150 crores revenue in FY 18-19.
It aims to achieve Rs 150 crores from a nascent market of 450 crores in the lithium segment within its first 9 months of operation. Okaya eyes over 100% growth every year till 2022. The market is expected to be of Rs 1.90 lakh crores for lithium batteries by 2030 in India.
Okaya with its customised solutions for Lithium ion battery requirements enjoys dominant market share in solar power projects, 2-wheelers, E-rickshaw and UPS segment already. For four wheelers, it is looking forward to join hands with a couple of OEMs. The exciting Lithium ion based batteries product range rolled out by Okaya has already started receiving positive feedback and rave reviews from all the stakeholders of the industry including its customers alike. With life of batteries ranging from 5 to 10 years, these Reliable and maintenance free, Lithium ion batteries by Okaya are environment friendly and a viable option for energy storage solution.
Mr Anshul Gupta, Director, Okaya said, “With Lithium ion batteries, Okaya has set in motion another big revolution in power storage solutions market. Thanks to the government’s recent initiatives, Lithium based batteries will be exponentially growing in India. In sync with Niti Aayog’s target for 2030, the share of Lithium batteries will be as much as 9 times more than regular lead acid batteries.”
He added, “In Lithium ion batteries, we have trimmed down the traditional battery size, putting more power in a much smaller space. With a higher cycle life and better performance factor, these light weight batteries can outperform regular lead acid battery. Our focus is on safety and performance. We have developed our own battery management systems for various applications, keeping safety as our priority.”
In view of India being a very hot climate country, Okaya has developed products which can bear extreme heat. It has developed PCB to protect its user friendly batteries with performance 5 times more than conventional lead-acid batteries, keeping in mind extreme temperature, harsh environmental conditions in India and user’s low technical knowhow.
The company has already supplied its batteries to some of the big solar projects and security forces like BSF. Various State nodal governments like Chhattisgarh, UP and North Eastern states are supporting the solar power projects based on Lithium batteries
‘Okaya’ is among the fastest growing battery brands in India with an installation base of more than 5 million plus batteries and a nationwide network of more than 25,000 + dealers, 723 + distributors, 35 branch offices and three plants. Besides having a world-class manufacturing unit, it also has battery life testing equipments which give the company an edge in maintaining high standards in quality. ‘Okaya’ uses Japanese technology to produce durable and international-standard batteries. The company has a vision to meet the power needs of modern India which is growing and developing fast.