Omega Seiki Mobility, a manufacturer of electric vehicles, has partnered with Mufin Green Finance, a publicly traded NBFC, to offer lease financing options to B2B clients and retail financing to B2C clients.
According to the agreement, by 2023 Mufin Green Finance will finance 3,500 cargo electric three-wheelers for OSM B2B customers and by 2024 it will finance 4,000 cargo and passenger EVs for B2C Retail customers.
Over 140 dealer touchpoints and all new dealerships set to open in 2023 will offer Omega Seiki Mobility electric vehicles, which Muffin will finance in the amount of over Rs 300 crore.
According to the OEM, there is a high demand for commercial electric vehicle leasing because of the low total cost of ownership and high quality of the vehicles, which is further fueled by large e-commerce companies’ ambitious electrification goals and the need for lower emissions. Additionally, all stakeholders greatly benefit from commercial electric vehicle financing.
The Indian automotive market has demonstrated a growing demand for electric vehicles, and offering EV financing options would be a great way to hasten India’s transition to an electric future, according to Uday Narang, Founder and Chairman of Omega Seiki Mobility. We currently have over 35,000 electric cargo and passenger vehicles on order. We are pleased to collaborate with Mufin Green Finance to provide an exclusive financing programme to our authorised passenger electric vehicle dealer and B2B partners.
“EV is a fast-evolving market, and there is a strong push from various stakeholders,” said Kapil Garg, chairman of Mufin Green Finance. The partnership with OSM is a strong affirmation of our goal to finance projects that address climate change. We are committed to making a significant social and environmental impact while serving the underserved or low-income segment.
Omega Seiki Mobility has been growing its product lineup and manufacturing footprint rapidly in India. It has set up large-scale manufacturing facilities in Delhi NCR and Pune. It also provides last-mile services under its ‘UnoXpress’ brand.
