Omega Seiki Mobility to set up electric vehicle manufacturing plant in Bangladesh, company to invest INR 100 crores
New Delhi [India], February 25 (ANI/NewsVoir): Omega Seiki Pvt Ltd, the Electric vehicles manufacturing company of Anglian Omega Group is setting up an Electric vehicle manufacturing facility near Dhaka in Bangladesh, with an investment of Rs 100 crores.
This will be the first project of any Indian EV company in international markets. The company will be known as OSM-Bangladesh and will be registered in Bangladesh. At present, Omega Seiki Mobility has two manufacturing plants in India, located at IMT Faridabad and IMT Manesar, Haryana.
Bangladesh's economy has grown consistently at 8.5 per cent for the past 5 years. Per capita GDP has also increased to USD 1800. Bangladesh has a well-established port and goods export system which drives garment export. This will be a big factor in making Bangladesh an export hub for OSM. The project will be a modern greenfield facility and will focus on manufacturing two-wheelers, three-wheelers, and electric bicycles.
"We are elated to serve our products in the neighboring country, easing their day-to-day tasks and updating them with the latest EV technology. Indeed, EV is the future and we, as an OEM are sincerely focusing on coming out with the best-in-class vehicles and quality service experience. We trust that our vehicles will cater to an impressive response in the neighboring country. Bangladesh at present does not have an EV policy but it may change fast. I met many senior officials of BIDA [Bangladesh Industrial Development Agency] and all of them welcomed Omega Seiki. They are very keen to bring this technology to their country and are very happy to provide all the support. I am especially pleased to start from Bangladesh which is in our neighborhood and a friendly country. We have plans to open in several other countries gradually," said Uday Narang, Chairman, Omega Seiki Mobility, sharing the iconic development.
Omega Seiki Mobility will be investing Rs. 200 crores in India to focus on R&D and manufacture all cutting-edge technologies and IT-driven businesses in the e-mobility segment but as of now, it is focusing on electric mobility as the first of its businesses.
"With electrification happening fast in automotive markets globally, we see it is time for the Bangladesh market to change as well. The transition in 2 and 3 wheelers will be fast as they contribute to the pollution and traffic chaos. Our vehicles will be powered by Li-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 locations e.g. ASEAN, Africa, etc. Bangladesh has a zero-tax policy for exports to 39 countries. This includes India as well and we are looking at selling in the northeast from there," said Dr Mukherji, MD of Omega Seiki P Ltd, speaking on the electric vehicle market.
The vehicles manufactured in Bangladesh will be sold under the OSM brand through local partners and franchises.
Anglian Omega Group started business operations in 1971 in Faridabad with a single Bright bar factory. After building a prominent position as the leaders in India in Bright Bar Steel, they have expanded focus with significant investments in the Infrastructure sector with the development of large-scale warehousing and cold storage facilities across multiple locations in India.
Internationally, Anglian Omega also has investments in, and partnerships with organizations in multiple sectors including Art, Beauty, and Lifestyle; Business Incubation and Services; Manufacturing Automotive Components; Electric Mobility; Craft and Design; Financial Services; Green Energy; Hospitality; Mobile Technologies and Applications; Real Estate; Steel Manufacturing; and Sports. Anglian Omega has offices in Thailand, Dubai, Germany, Switzerland and recently opened an office in Japan.
Omega Seiki Private Limited is a member of the Anglian Omega Network. Omega Seiki will focus on manufacturing cold-forming parts for the automotive & rail industries in India & abroad. It is set up as well for manufacturing high-precision machining powertrain parts using the latest high-value cutting-edge technologies.
At present, the company has its base in Faridabad, Pune and Chennai which cater to the three major Auto hubs for OEMs in India. The company plans to increase its global footprint by setting up its first international base in Japan in 2020. Omega Seiki Mobility is the mobility arm of the company looking at providing smart, green solutions for e-commerce, cargo and logistics companies.
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