OTO plans to expand its electric vehicle (EV) portfolio to 40% by the end of FY24, up from the current 20-22%. OTO aims to achieve 50,000 monthly bookings, up from the current 5,000, and plans to be present in 30-35 cities by year-end, from the current 22. Teaming up with Matter, a tech innovation-led startup, OTO is set to provide affordable and flexible financing options for Matter AERA, an EV, with bookings starting in 90 days. The collaboration aims to simplify the EV buying experience and contribute to a more sustainable future.
OTO expects to disburse approximately ₹800 crore in FY24, reflecting the growing interest in electric two-wheelers.