GURUGRAM, India -- Jeetender Sharma likes to gamble. Or at least one would think so, judging from his decision to build a new electric motorcycle factory capable of cranking out 1 million units annually -- roughly eight times more than the number of e-motorbikes sold across all of India last year.
Sharma, founder and managing director of Gurugram-based startup Okinawa Autotech, decided in May to invest 2 billion rupees ($28 million) in the plant and new product development. The factory's opening, scheduled for next spring, will add to his company's existing production capacity of up to 180,000 units.
