Omega Seiki Mobility rolls out maiden e-auto for Rs 3.4 lakh

Omega Seiki Mobility (OSM), the electric vehicle (EV) arm of Anglian Omega Group, has announced its entry into the passenger electric three-wheeler space by rolling out Stream, at a price tag of Rs 3.40 lakh (ex-showroom New Delhi). The e-auto is powered by an 8.5-kW capacity lithium-ion battery that can be charged through a 16A socket, by using the offboard portable charger, in four hours. The product offers a range of 110 km on a single charge, and is largely meant for tier 2 and tier 3 cities.

To be available pan-India, Stream will take on Piaggio's Ape E-City and Mahindra Treo's passenger electric three-wheelers. The company has invested nearly $15 million in the new product, which is designed to meet domestic and international market demand. A compact version, named Stream City, will also be available next month at a price tag of Rs 2.4 lakh (for intra-city rides),

At the launch, Uday Narang, Founder and Chairman, Omega Seiki Mobility, said, “The opportunities are humungous in the domestic three-wheeler market. Next year, the size of the market should be 1.2 million units per annum. Of that, the passenger segment accounts for half a million units. We are confident of cornering at least 5-10 percent of that pie.”

Narang said that the company is eying to sell around 40,000-50,000 units of Stream passenger e-three-wheelers next year, with 60 percent of the total volumes expected to come from domestic sales and the remaining 40 percent from overseas markets. "We are firming up plans to export these vehicles to Africa and ASEAN as well as Latin America," he added. It has also partnered with many banks and non-banking finance companies (NBFCs) to facilitate vehicle financing, which can also be availed through the group's in-house financing arm, Anglian Finvest.

Meanwhile, OSM has revealed that it is working on rapidly extending its product portfolio and expanding its manufacturing footprint in India. The company is the first OEM to have 2,3 and 4-wheelers in its product portfolio. It has set up large-scale manufacturing facilities in Delhi-NCR and is now looking to expand to Pune.