Seiki Mobility (OSM) has announced that it will be setting up the world’s
largest electric three-wheeler manufacturing unit in the state of Karnataka
with an investment of USD 250 million.
The new facility will be built in three
phases and will have a production capacity of1 million electric three wheelers
per annum. The company will be raising funding in the form of equity as well as
debt to build the OSM mega factory which is slated to commence production by FY
revolutionary new facility will be supplemented by its own supply chain of
powertrains and battery packs.OSM is also in active negotiation with existing
as well as new suppliers for setting up ancillary manufacturing facilities in
the vicinity of the OSM mega factory which will be built over an area of 250
Seiki Mobility is a market leader with its Rage+ brand of electric cargo 3
wheelers ( as per data from Vahaan Portal in L5N category).The new
manufacturing plant will produce an entire range of Omega Seiki Mobility electric
three wheeler vehicles which include Rage+, Rage+ Rapid EV, Rage+ Frost, Rage+
Swap, and Rage+ Tipper. Besides, the new plant will also be manufacturing the
soon to be introduced OSM Stream which will be an electric three-wheeler
Narang, Chairman and Founder, OSM, said "The organised electric
three-wheeler market has exponentially grown by a massive 200% in FY22 as
against the previous fiscal. This has helped EV 3 wheelers now command a
massive 46% of overall three-wheeler volumes. We at OSM believe that adoption
of EVs in the last-mile delivery sector and government bodies will help India
become the first market in the world where every 3 EV three-wheeler will be
sold for every 1 ICE three-wheeler. We want to be the market leader in the
three-wheeler market, not just in India but the world and the new OSM mega
factory with a capacity of 1 million units is the first step towards this
currently has an order book of over 50,000 units. The company is a leading last
mile service provider with under its brand “UNOXpress”. The company is
currently running its fleet in 20 cities, doing more than 10 lakh km per month.
Omega Seiki Mobility is working closely with partners for overcoming the supply
chain disruptions which have been plaguing the automotive industry. To achieve
high scale production of EVs, the company has set up JVs with Korean company
Jae Sung Tech to manufacture a new range of powertrains. Omega Seiki Mobility
is also planning to manufacture in-house motors and battery packs.
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