April 08, 2021

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Omega Seiki to develop EV manufacturing facility in Bangladesh

Omega Seiki

Omega Seiki to develop EV manufacturing facility in Bangladesh

Omega Seiki Mobility an electric vehicle manufacturing company has made an announcement that it would develop an electric vehicle manufacturing facility near Dhaka, Bangladesh.

The Omega Seiki said that it would invest ₹1 billion to develop the facility. The company will be registered in Bangladesh as OSM-Bangladesh. The factory will manufacture electric two-wheelers, three-wheelers, and cycles to sell all over India via local partners and franchises.

At present, the Omega Seiki has two manufacturing facilities at IMT Faridabad and IMT Manesar in Haryana. For its research and development and manufacture of cutting-edge technologies and information technology, the company has invested ₹2 billion in India.

Deb Mukherji, Managing Director of Omega Seiki, said, “With electrification happening fast in automotive markets globally, we see it is time for the Bangladesh market to change as well. The transition in two-wheelers and three-wheelers will be fast as they contribute to the pollution and traffic chaos.”

“Our vehicles will be powered by lithium-ion batteries and with powertrains, which would be built in Bangladesh, with technology transfer from India. In due course, we are looking at full localization in Bangladesh. We would also be looking to export from Bangladesh to global markets like the Association of Southeast Asian Nations (ASEAN), Africa, etc. Bangladesh has a zero-tax policy for exports to 39 countries, including India, and we are looking at selling in the northeast from there,” he said.

Earlier, it has unveiled three electric vehicles for commercial and passenger segments. The company plans to start delivery of the models from March next year. The new electric vehicles include Sun Ri (three-wheeler for cargo segment), Ride (e-rickshaw), and Stream (passenger auto-rickshaw).

Anglian Omega Group Chairman Uday Narang said in a statement that “The Indian market has great potential to capture electric vehicle technology on a larger scale. Replacing conventional internal combustion engines with electric vehicles will benefit the nation in multiple ways by generating new employment possibilities, contributing to the economy, and sustaining the environment.”

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