Electric vehicle manufacturer Omega Seiki Mobility has announced plans to build the world’s largest electric three-wheeler factory in the state of Karnataka.
In a statement the company stated, “On the occasion of World Earth Day (April 22), Omega Seiki Mobility (OSM) is proud to announce that it will be setting up the world’s largest e-3W manufacturing unit in Karnataka with an investment of $250 million.”
While the company hasn’t revealed the exact location of the new factory it has stated that it will cover an area of 250 acres. The factory will be built over 3 phases and when finished will have the capacity to produce 1 million electric three-wheelers every year.
Omega Seiki Mobility claims that the new factory will commence production in the next fiscal year and will cater to both domestic and international markets. The company is also in talks with exisiting and new suppliers to set up ancillary units near its new megafactory. To ensure high levels of EV production, OSM has set upjoint ventures with South Korean firm Jae Sung Tech to help it manufacture a new range of EV powertrains.
Speaking about his company’s plans, Omega Seiki Mobility Chairman and Founder, Uday Narang said, “The organised electric three-wheeler market has exponentially grown by a massive 200% in FY22 as against the previous fiscal. This has helped EV 3 wheelers now command a massive 46% of overall three-wheeler volumes. We at OSM believe that adoption of EVs in the last-mile delivery sector and government bodies will help India become the first market in the world where every 3 EV three-wheeler will be sold for every 1 ICE three-wheeler. We want to be the market leader in the three-wheeler market, not just in India but the world and the new OSM Megafactory with a capacity of 1 million units is the first step towards this goal.”
The company states that electric three wheelers are the backbone of India’s last mile mbility ecosystem. At a time when petrol, diesel and CNG prices at all-time highs, electric three wheelers offer affordable transportation solutions to large parts of the country, which helps in the betterment of the bottom-line of logistics players.
Omega Seiki Mobility is already expanding beyond India. The company already has joint ventures signed with companies in countries like Bangladesh, Egypt, and the United Arab Emirates. Omega Seiki Mobility is already exporting its range of electric vehicles these overseas markets.
Speaking about the situation, Deb Mukherji, Managing Director, Omega Seiki Mobility, said, “We will also set up manufacturing facilities in these countries along with our local partners. OSM has also focused on integrating its product portfolio and is the only company in India to offer three power pack options – long-range, rapid charging and swappable”.
Thoughts On Omega Seiki Mobility’s New Megafactory
Omega Seiki Mobility’s new Megafactory in Karnataka will be a boon not only to the company but to last mile delivery providers looking to scale up their business in the near future. With the new megafactory, we expect to see a whole lot more of OSM’s Rage lineup of electric three wheeler cargo vehicles on our roads in the near future.
Keyword: OSM To Setup World's Largest Electric 3-Wheeler Factory In Karnataka