Omega Seiki Electric Tender

Scope Omega Seiki Mobility OSM a part of Anglian Omega Group of Companies is looking forward to make an investment of USD 300-600 million around Rs 2232 crore to Rs 4465 crore in the next five to seven years in electric mobility business as it aims to become a global brand. The electric vehicle company has plans to set up a manufacturing facility and a research and development RD centre in collaboration with an OEM in Europe and foray into the African market besides expanding its footprint in the domestic EV space. The EV maker currently has a manufacturing plant in Faridabad and the second one is expected to be commissioned in the next few months. It launched its first electric three-wheeler last year. OSM early this month announced collaboration with French automotive supplier Valeo for electric power trains. The company currently has two cargo e-three-wheelers in its portfolio and it is expecting to roll out scooters rickshaws four-wheeler cargo tractors and buses all electric going forward. The company has already invested Rs 200 crore and putting in another Rs 1000 crore for our expansion plans. However going by aggressive expansion plans and anticipated demand the company will need to invest much more. In terms of expansion OSM has strong interest in Bangladesh where it is setting up a plant besides ASEAN and Africa the company has had multiple conversations with players in African nations such Kenya Zambia Ethiopia Nigeria South Africa and Botswana. The company may set up a semi-knock down assembling plant and individual facilities also in these countries as part of its MakeinAfrica plan for the region but initially it will begin with import of fully-built vehicles. It is working on a major alliance with a European OEM on buses. On the products side the company is also going to introduce an electric tractor in the market and for this purpose its RD teams are working on it right at present. It is in the process of launching two tonner four-wheeler for cargo transportation and it is expected to give a tough competition to the existing players in the IC engine segment. Moreover at the moment it is getting massive orders in the B2B business which currently constitutes as much as 90 percent of the total business. But over the next six months it is expected to be in 50 50 ratio. The companys current order book stands at around 6000 vehicles and with its participation in the CESL tenders for three lakh e-three-wheelers floated recently it is expecting to grab a major order from the government. The company has already participated in the Andhra Pradesh government tenders for garbage trucks. The company has to ramp up capacity continuously amid the massive increase in demand and with fuel prices having an adverse impact on the transportation cost is looking to have a hub and spoke model with North India serving as the hub and other regions as spokes. The projected ca