The Faridabad-based electric vehicle company has strategies to set up a manufacturing facility and an R&D centre in collaboration with an OEM in Europe and foray into the African market further increasing its footprint in the domestic EV space.

Omega Seiki Mobility (OSM), which is a part of Anglian Omega Group of companies, is now looking to invest USD 300-600 million in the next five to seven years in the electric mobility business as it intends to become a global brand, its chairman Uday Narang recently stated that the Faridabad-based electric vehicle company has plans to set up a manufacturing facility and an R&D centre in collaboration with an OEM in Europe and foray into the African market besides expanding its footprint in the domestic EV space, he said.

The EV maker at this time has a manufacturing plant in Faridabad and the second one is projected to be commissioned there in the next few months. It launched its first electric three-wheeler in 2020.

In terms of expansion, OSM has robust interest in Bangladesh, where it is setting up a plant, besides ASEAN and Africa, he stated, totalling that the company has had multiple conversations with players in African nations such Kenya, Zambia, Ethiopia, Nigeria, Botswana and South Africa.

The company is also said to be setting up a semi-knock down assembling plant and individual facilities also in these countries as part of its 'Make-in-Africa' plan for the region but initially it will begin with import of fully-built vehicles.

On the products side, Narang mentioned that the company is also going to present an electric tractor in the market and for this purpose its R&D teams are working on it right at present. He further stated, "We hope to showcase our product in the very near future. Our R&D teams are unceasingly working to develop new products".

"We have a very considerable order book for this financial year. With these tenders we are considering more and we will endure to upgrade quarter-to-quarter," he said.

Omega Seiki has to ramp up capacity constantly amid the massive upsurge in demand and with the fuel prices having an opposing impact on the transportation cost is looking to have a hub and spoke model with North India attending as the hub and the other regions as spokes, said Narang.