Omega Seiki Mobility to set up EV manufacturing plant in this country with Rs 100 crore investment

Omega Seiki Mobility says that it will also be investing Rs 200 crores in India to focus on R&D and manufacture all cutting-edge technologies and IT-driven businesses in the e-mobility segment. 

By:Updated: Feb 25, 2021 5:40 PM

 

Omega Seiki Pvt. Ltd. has announced that it will be setting up an electric vehicle manufacturing facility near Dhaka in Bangladesh. The said factory will be set up with an investment of Rs 100 crores. The company will be known as OSM-Bangladesh and will be registered in the said country only. Currently, Omega Seiki Mobility has two manufacturing plants in India, located at IMT Faridabad and IMT Manesar, Haryana. The upcoming modern greenfield facility in Bangladesh will focus on manufacturing two-wheelers, three-wheelers, and electric bicycles. Bangladesh’s consistently growing economy and the increasing per capita GDP will be key factors in making Bangladesh an export hub for OSM, the company noted. The vehicles manufactured in Bangladesh will be sold under the OSM brand through local partners and franchises. Omega Seiki Mobility says that it will also be investing Rs 200 crores in India to focus on R&D and manufacture all cutting-edge technologies and IT-driven businesses in the e-mobility segment.

Watch video | Our Omega Seiki Rage+ cargo electric three-wheeler review:

Speaking on the development, Uday Narang, Chairman, Omega Seiki Mobility said that the company is elated to serve its products in the neighboring country, easing their day-to-day tasks and updating them with the latest EV technology. He added that EV is the future and OSM is sincerely focusing on coming out with the best-in-class vehicles and quality service experience. Bangladesh at present does not have an EV policy but it may change fast. Uday says that he met many senior officials of BIDA [Bangladesh Industrial Development Agency] and all of them welcomed Omega Seiki. Moreover, they are keen to bring this technology to their country and are very happy to provide all the support.

Speaking on the occasion, Dr. Mukherji, MD of Omega Seiki P Ltd. said that with electrification happening fast in automotive markets globally, the brand sees that it is time for the Bangladesh market to change as well. Omega Seiki’s vehicles will be powered by Li-Ion batteries and with powertrains which would-be built-in Bangladesh, with technology transfer from India. In due course, Omega Seiki is looking at full localization in Bangladesh and the company would also be looking to export from Bangladesh to global locations e.g. ASEAN, Africa, etc. He added that Bangladesh has a zero-tax policy for exports to 39 countries and this includes India as well and Omega is looking at selling in the northeast from there.

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