Electric two-wheeler maker Okinawa Autotech is in advanced talks to raise $100 million (about Rs 800 crore) from private equity firms and a deal is likely to be signed shortly. The funds will be deployed to commission its third manufacturing facility.

Okinawa Autotech will invest over Rs 220 crore in the next three years on the development of new products and powertrain. The development will take place at its newly inaugurated first research and development centre in Italy, set up in association with its joint venture partner Tacita.

Currently providing location and mapping service of electric charging stations operators across the country on its app, the company is seeking angel funding to install 10,000 stations by 2022.

The firm plans to invest Rs. 150 crore in setting up a new manufacturing unit in Rajasthan, and roll out fresh products as it sets a target of selling one lakh units in the next fiscal year. The new facility will have an annual capacity of 5-6 lakh units in the first phase and can go up to 10 lakh units in future.

The company is setting up a new manufacturing plant with an annual capacity of one million unit.

Indian automobile industry of India is one of the largest in the world. The Two Wheelers segment dominates the market share; the reasons are attributed to existence of large middle class with growing income and a young population.

Gurugram-based electric two-wheeler manufacturer plans investment spread over three years in network expansion and new product development. The plans also include development of charging stations in metros near its dealerships by next year.