Grip to lease 1,000 e-3Ws from Omega Seiki Mobility

Omega Seiki Mobility announces partnerships for providing lease financing solutions to retail investors.

Omega Seiki Mobility announced a strategic partnership for providing lease financing solutions to retail investors. Under the partnership, Grip will finance 1,000 units of Omega Seiki Mobility’s Rage+ Rapid e-three-wheelers. The partnership aims to lease a minimum of 5,000 electric vehicles by end-2023. At present, the OEM claims it has an existing order book of over 40,000 units.

Uday Narang, founder, and chairman, Omega Seiki Mobility said, “The absence of affordable financing options has proven to be a critical impediment for low-income patrons to change to EVs. Keeping with the belief system to creating sustainable mobility, OSM scouts various ways to lease and supply electric three-wheelers, adding to the current EV thrust in the country.”

Grip is democratising and enabling access to curated deals for individual investors to generate non-market linked fixed returns, which allows them to participate and benefit from the growth of EV industry. The platform provides detailed necessary information (such as company profile and performance, timelines, key investment highlights, risks), based on which its users can make an informed decision.  So far, Grip Invest has enabled more than 20 Indian EV players to unlock the next growth phase. The platform has facilitated the leasing of assets worth more than Rs 125 crore and enabled over 80 companies such as BLueTokai, Furlenco, Holisol, Loadshare, ChargeZone, LetsTransport, FabAlley, etc. to access different channels of growth capital.

On the other hand, OSM has set up large-scale manufacturing facilities in Delhi NCR and is now looking to expand in Pune. The company is a last-mile service provider under its brand ‘UnoXpress’. It’s fleet is currently operating in 20 cities, doing more than 15 lakh kilometre per month.

Reports suggest the global commercial vehicle rental and leasing market size was valued at $77.42 billion in 2021. The market is projected to grow multi-fold over the next 5 years. 

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