Advertisement

Omega Seiki Mobility To Set Up An Electric Vehicle Manufacturing Plant In Bangladesh

The Indian EV player has expanded its roots to develop electric vehicle manufacturing unit in Bangladesh for domestic and export footprints.

Omega Seiki has announced that it is setting up an Electric vehicle manufacturing facility near Dhaka in Bangladesh, with an investment of 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% 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, the company said.

Sharing the iconic development Uday Narang, Chairman, Omega Seiki Mobility said "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. 

Speaking on the electric vehicle market Dr. Mukherji, MD of Omega Seiki P Ltd. 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 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.” 

The vehicles manufactured in Bangladesh will be sold under the OSM brand through local partners and franchises.


Tags assigned to this article:
Omega seiki Mobility

Advertisement

Around The World