Omega Seiki Mobility (OSM) has announced the signing of a MoU with Punjab National Bank (PNB). With this tie-up, Omega Seiki Mobility aims to help dealer partners streamline vehicle inventory funding and offer comprehensive retail financing solutions to their customers.
To date, Omega Seiki Mobility has financed 8,000 electric vehicles, amounting to a disbursement of Rs 350 crore. Looking ahead, the company has ambitious plans to finance an additional 7,500 electric vehicles, with a total value of Rs 300 crore, over the next three years.
Rural areas benefit from reliable and cost-effective transportation, which is vital for socio-economic development. Omega Seiki Mobility and Punjab National Bank’s partnership prioritises access to electric vehicles and localised charging infrastructure, empowering rural communities with cleaner and more efficient transportation options.
Lowering the interest rates for financing encourages a broader segment of society to embrace electric mobility, supporting India’s sustainable development goals. OSM will also increase the penetration in the EV ecosystem.
Uday Narang, Founder and Chairman of Omega Seiki Mobility, expressed his vision for this transformative partnership, “This partnership is not just about numbers; it’s about fostering a profound shift in how we perceive and access sustainable transportation. Our mission is clear: We aim to provide more than just financing options; we’re building a bridge to a greener, more inclusive future for every Indian.”
He added, “As we tap into the extensive network of Punjab National Bank’s branches across the nation, we’re expanding the horizons of electric vehicle ownership. This partnership doesn’t merely enable transactions; it’s about empowering individuals, families, and communities. It’s about giving wings to aspirations and turning them into reality.”
“Electric mobility isn’t limited to urban centres; it’s a transformative force that can uplift the lives of millions in rural India. By prioritizing access to electric three-wheelers, we are empowering rural India with cleaner, more efficient transportation options and generous earning potentials. We envision a future where electric vehicles become catalysts for positive social change, driving socio-economic development and reducing our carbon footprint.” Added Narang.
Other partnerships
Omega Seiki Mobility has established strategic partnerships with financial institutions such as IDFC and Indian Bank, alongside notable NDFC collaborators including Ecofy, Rise Wise Capital, AMU Leasing, Paisa Lo Digital Limited, Shri Ram Finance, Wheels EMI, Three Wheels United, Vidyu Tech, among others, catering to both Retail and Captive Customers of OSM.
These affiliations enable customers to access funding at competitively advantageous interest rates. Through these carefully structured arrangements, customers receive customised, secure, and responsive services, tailored precisely to their unique requirements, accessible through a diverse range of channels.
This collaboration not only strengthens existing bank relationships but also empowers financial institutions to extend their reach, serving a broader audience, and thereby contributing to broader financial inclusion initiatives.
