Omega Seiki Mobility and PNB to improve E-3W financing solutions in India
New Delhi: To improve the availability of retail electric vehicles (EVs) throughout India, Omega Seiki Mobility (OSM) and Punjab National Bank (PNB) has signed a Memorandum of Understanding (MoU).
The partnership intends to streamline dealer partners’ funding for vehicle inventories and offer clients complete retail finance alternatives.
With a total investment of INR 350 crore, Omega Seiki Mobility has already financed 8000 electric automobiles. During the following three years, the business has ambitious ambitions to fund an additional 7,500 electric vehicles costing INR 300 crore.
The cooperation gives equally high priority to urban and rural customers by providing reasonably affordable financing solutions. In addition to addressing the needs of socioeconomic growth, the alliance strives to strengthen rural communities by offering cleaner and more effective transportation options.
The cooperation was envisioned by Omega Seiki Mobility’s founder and chairman, Uday Narang. He stressed that the partnership aims to empower people and communities and make electric mobility available across the country, going beyond simple business transactions.
Amitabh Rai, DGM-MSME, Punjab National Bank, emphasized that the MoU makes it possible for electric 3-wheelers to receive smooth financing options, which supports environmentally beneficial transportation options.
The partnership’s revolutionary aspect was stressed by Rakesh Ranjan, Head of Retail Finance at Omega Seiki Mobility, who claimed that it ushers in an era of environmentally responsible mobility and sees electric cars as engines for constructive societal change.
To serve captive and retail consumers, Omega Seiki Mobility has also formed relationships with other financial institutions. These partnerships provide smooth financing at affordable interest rates, supporting broader financial inclusion initiatives.
About Omega Seiki Mobility
Omega Seiki Mobility (OSM) is a company that produces and sells electric vehicles (EVs) in India. OSM is part of the Anglian Omega Network, a global group of family-owned businesses that operate in various sectors, such as automotive, infrastructure, trading, and sports. OSM was founded in 2018 by Uday Narang, an MBA graduate from Stonybrook University, New York.
OSM’s vision is to become the most agile and globally top player in the commercial EV segment by 2025. OSM’s mission is to continuously adapt, develop in-house capabilities for technology and services, and ensure a sustainable talent and partner ecosystem . OSM’s values are innovation, design, safety, and customer satisfaction.