Omega Seiki Mobility inks JV with South Korean firm for high-speed e-scooter foray | The Financial Express

Omega Seiki Mobility inks JV with South Korean firm for high-speed e-scooter foray

OSM currently manufactures electric three- and four-wheelers.

Omega Seiki Mobility inks JV with South Korean firm for high-speed e-scooter foray
OSM plans to open 50 dealerships in GCC, ASEAN, and parts of Africa and also leverage the FTA with UAE. (IE)

Omega Seiki Mobility (OSM), an Anglian Omega Group company, will manufacture high-speed electric scooters from its plants in Pune and Faridabad, for which it has entered a 50:50 joint venture with South Korea’s Ecocar.

OSM currently manufactures electric three- and four-wheelers. Founder and chairman Uday Narang said the company will focus on segments in the electric scooter business that have not being addressed by other EV makers, and has zeroed in on the premium end of the global market.

Narang said the plants and fixtures have arrived from South Korea at the Nhava Sheva port, and OSM will soon start building the scooter plant in Chakan at Pune, and in Faridabad. The high-speed scooters would be made for the global market with a focus on the US and Europe, ASEAN and GCC countries. The company will start with a capacity of 15,000 units a month, and scale up to 30,000 units. The electric scooter prototype is ready and has received approvals in South Korea. The high-speed two-wheelers would be priced at around `2 lakh.

OSM plans to open 50 dealerships in GCC, ASEAN, and parts of Africa and also leverage the FTA with UAE.

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The company’s initial investments would be around $15 million in Pune and $20-25 million in the Haryana plant. Narang OSM has so far invested its funds in the EV business, but as it scales up and expand the portfolio, it will look at strategic investors to raise funds.

The company is also launching electric two-wheelers for the rural market in India with the Mopido brand. Available in both high-speed and low-speed options and priced in the `60,0000-80,000 range, they will target Tier 2, 3, and 4 markets. OSM has 127 dealers and will add another 100 this financial year.

The company on Tuesday also announced a collaboration with intracity logistics company Porter to deploy 5,000 three-wheeler electric cargo vehicles for last-mile delivery services. The vehicles will be deployed by 2023. Porter currently has 1,000 e-3Ws in its fleet and is expanding it with OSM’s Rage+ brand EVs.

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