Okinawa’s revenue nosedives 87% to Rs 182 Cr in FY24

Okinawa Autotech Pvt Ltd, an electric two-wheeler manufacturer, experienced a significant 87% nosedive in its revenue, falling to ₹182 crore in FY24. This sharp decline indicates a substantial downturn in the company's sales and overall business performance during the fiscal year. The reasons for this drastic drop in revenue are not specified but could be attributed to various factors such as increased competition in the electric vehicle market, changes in government subsidies or regulations, production issues, or shifts in consumer demand. This financial setback will likely require the company to reassess its strategies and operations to regain its market position and revenue growth in the competitive EV landscape.