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 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 percent for the past five years. Per capita GDP has also increased to $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.
Sharing the iconic development Mr. Uday Narang, Chairman, Omega Seiki Mobility said “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.”
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 two and three-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.