Omega Seiki Mobility plans to invest $100 million in each of two electric vehicle factories in South India, and the business is in talks with three states, including Tamil Nadu.
In Pune, the business already has EV factories in Faridabad and Chakan. The plan to establish new factories in the South was prompted by the southern market’s growth potential as well as the prospect of lowering logistics costs.
“We are looking to set up a mega EV production unit here for electric three-wheelers and a new factory for electric commercial vehicles in this region. We are in talks with both Tamil Nadu and Karnataka governments. We have also looked at Andhra Pradesh,” said Uday Narang, Founder and Chairman of Omega Seiki Mobility, which is part of the Anglian Omega Group. The group has been engaged in the manufacture and export of steel and auto parts over the past 5 decades.
The New Delhi-based company is also exploring the possibility of setting up an integrated facility for electric three-wheelers and electric trucks in one location.
Narang says the South is an important market for the electric three-wheeler passenger segment—one of the company’s key focus areas. OSM seeks to focus on Tier 2, 3 and 4 markets for electric cargo and passenger three-wheelers as its strategic vision is to take the EV revolution to the masses and play in niche areas. “We want to focus on small towns and rural locations in the Southern States and, Haryana and Punjab among others with a wide range of niche products,” he added.
