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Omega Seiki Mobility plans to set up manufacturing facilities

Monday, 30 Nov 2020
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Omega Seiki Mobility plans to launch multiple electric products including two-wheelers, a four-wheeler cargo vehicle and a tractor over the next two years. The company is a part of the Delhi-based Anglian Omega Group. 
It also aims to set up manufacturing facilities across various parts of the country. The company already has multiple manufacturing sites in Delhi, NCR. It plans to have around 200 dealerships across the country by the end 2021. 
The company has earmarked an initial investment of Rs 200 crore for the projects and going ahead aims to raise another Rs 1,000 crore in order to fund the expansion plans. 
The company will consider taking several routes to raise required capital to fund various projects. It will try a combination of things which may include going public, private equity, green bonds, among others. 
The company will introduce two-wheelers for both passenger and cargo segments around April 2021, while the four-wheeler for cargo and tractor wil make way around next 2021-end or early 2022. 
The vehicles will be powered by lithium ion batteries and cater to last mile deliveries. The scooters are already in advanced stages of testing and trial phases.
The electric pick-up truck will come with two tonne payload and cater to last mile cargo delivery. The electric tractor model would come with 30-40 HP power range and could be priced around Rs 10-12 lakh. 
The company is currently witnessing a significant demand for electric three-wheelers in South India, primarily from e-commerce firms. It is in an advanced level of discussion with a possible partner for a facility there. 
The company, which has recently set up dealerships in Hyderabad, Telangana and Bengaluru, Karnataka, now plans to open 20 more outlets in Tamil Nadu, Karnataka and Kerala by 2020 end.
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