OSM to supply 500 electric three-wheelers to CABT for last-mile delivery | The Financial Express

OSM to supply 500 electric three-wheelers to CABT for last-mile delivery

As per the understanding, OSM will initially lease 500 units of its electric three-wheelers to CABT, before further expanding the deal to 1500 units by the end of 2025.

OSM to supply 500 electric three-wheelers to CABT for last-mile delivery

Delhi-based electric vehicle manufacturer Omega Seiki Mobility and Creativity at Best Technologies (CABT), a logistics service provider, have inked a pact to deploy 500 OSM electric three-wheelers at the latter’s logistics fleet.

As per the understanding, OSM will initially lease 500 units of its electric three-wheelers to CABT, before further expanding the deal to 1500 units by the end of 2025. 

Uday Narang, Founder and Chairman, Omega Seiki Mobility said, “Owing to the low total cost of ownership, the demand for leasing commercial electric vehicles is very robust which is further fuelled by ambitious electrification targets by large e-commerce companies amid the need for lower emission have led to an upsurge in demand of electric vehicles,”

“The global commercial vehicle rental and leasing market size was valued at USD 77.42 billion in 2021. The market is projected to grow multi-fold over next 5 years.”, he added.

Shailesh Kumar, Founder, CABT Logistics said, “We are very excited to associate with OSM to drive the adoption of Rage+, Rage+ Rapid and Rage+ Rapid Pro. This collaboration will not only ensure a strengthened fleet but also help in reducing our and our clients’ carbon footprint by shifting to Omega Seiki Mobility’s economical, highly profitable, and less pollutive electric vehicles”

In India, the last-mile logistics sector in the e-commerce industry is anticipated to increase by 9 times to USD 5.23 billion in 2025. For small loads, 3W goods vehicles are fast becoming a preferred choice for last-mile delivery. 

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First published on: 20-10-2022 at 16:59 IST