Omega Seiki Mobility join hands with Grip; to lease 1,000 electric three-wheelers
Modified On Jun 10, 2022 04:33 PM
By 2023, the firm aims to increase this number to 5,000 electric vehicles to further expand the electrification of last-mile fleet in India.
Taking yet another step towards greater electrification of the last-mile fleet in India, home-grown EV makers, Omega Seiki Mobility join hands with Grip to lease 1000 units of electric three-wheelers Rage+ Rapid. Under the partnership, both the companies will expand this partnership to lease a minimum of 5,000 electric vehicles by the end of 2023.
Through this deal, Omega Seiki Mobility targets to cater to the ever-growing demand for electric three-wheelers for last-mile delivery. Omega Seiki Mobility which retails its range of e-rickshaws including OSM Rage Plus, OSM Rage Plus Swap, OSM Rage Plus Frost, and OSM Rage Plus Rapid has an existing order book of over 40,000 commercial electric vehicles
Demand for the last-mile electric three-wheelers is growing rapidly across Indian urban, semi-urban and hinterlands. The electric three-wheelers are affordable to own and run, drawing more and more new buyers towards these vehicles. This is further bolstered by the growth in e-commerce and demand for leasing commercial electric vehicles amid the need for lower emissions have led to an upsurge in demand for electric vehicles.
Speaking on the partnership, Uday Narang, Founder, and Chairman, of Omega Seiki Mobility said, “We are pleased to partner with Grip which is a customer-centric, tech-enabled new-age investment platform. The collaboration will work upon a stronger foothold of the EV in the existing market and accelerate the electrification drive. The absence of affordable financing options has proven to be a critical impediment for low-income patrons to change to EVs. Keeping with the belief system to create sustainable mobility, OSM scouts various ways to lease and supply electric three-wheelers, adding to the current EV thrust in the country.”
Vivek Gulati, Co-Founder, and COO, of Grip, said, “Since inception, Grip has partnered with 80+ venture capital-backed, high growth companies to enable asset-backed financing through Lease Financing and Inventory Financing. The Mobility sector, with a focus on EVs, has seen the maximum investments on our platform. Electric three-wheelers are an emerging segment, where leasing out the vehicle appears to be a beneficial proposition for both, the company and the retail investors looking to diversify their portfolio beyond market volatility to get fixed returns. One of the fastest-growing and integrated EV players, Omega Seiki Mobility joining hands with us, will prove to be a significant step ahead in democratizing and organizing the EV lease financing sector in India.”
“Grip is one of the leading platforms that is helping India to join the change of emission-free mobility and reduce the carbon footprint. Omega Seiki Mobility believes the only way to be successful in the Electric Vehicle market is through association hence, Omega Seiki Mobility has been inking multiple partnerships to make EVs more accessible and affordable and further its green drives” added Narang
Omega Seiki Mobility has been growing its product lineup and manufacturing footprint rapidly in India. OSM has set up large-scale manufacturing facilities in Delhi NCR and now looking to expand in Pune. The company is a leading last-mile service provider under its brand “UnoXpress”. Omega Seiki Mobility is currently running its fleet in 20 cities, doing more than 15 lacs Km per month.
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