Omega Seiki Mobility (OSM) has signed a MoU (Memorandum of Understanding) with Punjab National Bank (PNB) with an aim to help its dealers streamline inventory funding and offer comprehensive retail financing solutions. 

Stating that Omega Seiki Mobility has successfully financed 8000 electric vehicles, amounting to a disbursement of INR 3.5 billion till date, an Omega Seiki source mentioned that the company has ambitious plans to finance an additional 7500 electric vehicles, with a total value of INR 3 billion over the next three years. 

Omega Seiki recently launched an electric passenger three-wheeler Stream City in what could be termed as a transformation in its strategy, which was earlier focused on the development and sale of cargo three-wheelers for the last mile delivery segment.  

Keen to provide low-cost innovative financing options for both rural and urban customers to enhance its market reach and drive adoption and promotion of sustainable mobility in the form of electric commercial vehicles, Omega Seiki will focus on ensure access to its electric vehicles and charging infrastructure as part of the partnership with Punjab National Bank.  

Another change in Omega Seiki’s strategy is a rising focus on B- and C-cities where the low running costs of light electric commercial vehicles such as the Stream City or the Rage electric cargo three-wheeler would be more beneficial than they would be to an urban customer.  

The approach is about transformative impacts such as lower emissions, cutting operational costs, generating employment with better livelihood and extra earning opportunity for riders fostering socio-economic growth, the Omega Seiki source informed.  

Uday Narang, Founder and Chairman, Omega Seiki Mobility, expressed, "Today marks a significant milestone as Omega Seiki Mobility joins hands with Punjab National Bank to reshape the landscape of electric mobility financing. This partnership is not just about numbers, it is about fostering a profound shift in how we perceive and access sustainable transportation. Our mission is clear: We aim to provide more than just financing options. We aim to build a bridge to a greener and more inclusive future for every Indian as we tap into the extensive network of Punjab National Bank's branches across the nation and expand the horizons of electric vehicle ownership. This partnership doesn't merely enable transactions, it's about empowering individuals, families and communities. It's about giving wings to aspirations and turning them into reality.” 

Amitabh Rai, DGM- MSME, Punjab National Bank, said, “Punjab National Bank has teamed up with Omega Seiki Private Limited (OSPL) to offer seamless financing options for electric three-wheelers to provide eco-friendly mobility solutions. Aimed at providing seamless financing solutions for electric three-wheelers and cargo loaders, PNB customers can now access exclusive and affordable financing options.” 

Besides Punjab National Bank, Omega Seiki Mobility has strategic partnerships with esteemed financial institutions such as IDFC, Indian Bank, Ecofy, Rise Wise Capital, AMU Leasing, Paisa Lo Digital Limited, Shri Ram Finance, Wheels EMI, Three Wheels United, Vidyu Tech and others.

Greenway Mobility, an Indian EV manufacturing company, has launched two electric three-wheelers, Chhota Otto and Chhota Bull, under its flagship E-Vi brand.

The Chhota Otto has folding seats to free up passenger room for freight transportation and separate suspensions on all three wheels for improved comfort and stability. The Chhota Bull, on the other hand, is built for last-mile delivery in difficult terrain. It has a huge 400-kilogramme payload capacity, hydraulic brakes and IoT-enabled fleet management for efficiency and real-time tracking. Both the Chhota Otto and Chhota Bull are priced at INR 200,000 and will be available in the market by the 4th quarter of FY24.

In keeping with its core objective of dominating the electric three-wheeler market by December 2025, Greenway Mobility has embarked on an ambitious expansion project with the launch of E-Vi, aiming to open more than 100 dealerships in key Indian markets by the end of this year. Additionally, the company is getting ready to introduce Rydan, a fast passenger electric rickshaw designed to offer affordable green mobility options in both urban and rural regions of the nation. In addition to making considerable R&D efforts to add electric bikes, trikes and tiny electric automobiles to its lineup, the firm is open to forming strategic alliances with distributors and partners.

Siddharth Patel, Founder, Greenway Mobility and an IIT Bombay and Cornell Johnson Graduate School of Management alumnus, said, “India needs mobility solutions that are not only sustainable but also robust and reliable enough to meet the demands of both bustling cities and rural landscapes. Through E-Vi, our aim extends beyond electrifying India’s three-wheeler mobility, creating a robust distribution channel with strategic partners to ensure unprecedented growth, driven by quality and excellence. We are establishing strategic industry collaboration to supplement this entire ecosystem to benefit the end use – addressing concerns like accessibility, nationwide service network, affordable financing options, swappable batteries and charging networks.”

Asserting that the E-Vi will transform how three-wheeler mobility is perceived in India, Harsh Raval, Founder, Greenway Mobility, said, “At Greenway Mobility, we have engineered every aspect of E-Vi vehicles to ensure they excel where others falter. Our goal is to provide vehicles that drivers can trust – vehicles that empower them to do more, go farther and achieve greater success. Maintaining quality is of utmost importance to us and we are sourcing components from only the top Indian suppliers. With our growing portfolio of electric vehicles, we are shaping the future of mobility.”

Bengaluru Metropolitan Transport Corporation (BMTC) has placed an extra order for 148 electric buses from Tata Motors, the biggest commercial vehicle manufacturer in India. This purchase comes after BMTC placed an earlier order for 921 electric buses, the majority of which have been delivered and are operating effectively with an uptime of more than 95 percent.

The Tata Starbus EV 12-metre low-floor electric buses will be supplied, operated and maintained for a term of 12 years by TML Smart City Mobility Solutions Ltd, a completely owned subsidiary of Tata Motors. With its best-in-class features and outstanding design, the Tata Starbus EV offers a pleasant and environmentally friendly commute. These zero-emission electric buses are built on cutting-edge battery technologies and next-generation design to provide a convenient, safe and comfortable intra-city journey around Bengaluru.

Ramachandran R, IAS, MD, BMTC, said, "We are happy to further strengthen our partnership with Tata Motors with these additional 148 electric buses for our fleet modernisation. The performance of the existing Tata electric buses has been exceptional, aligning perfectly with our commitment to sustainable and efficient public transportation. The larger e-bus fleet will significantly enhance our capacity to provide eco-friendly, comfortable and reliable services to the citizens of Bengaluru."

Asim Kumar Mukhopadhyay, CEO and MD, TML Smart City Mobility Solutions Limited, said, "We are honoured by BMTC's continued trust in our e-mobility solutions. This additional order of 148 buses is a testament to the proven success of our Starbus EVs and the operational excellence delivered in Bengaluru's urban environment. We remain committed to delivering innovative solutions that benefit both the community and the environment."

Maruti Suzuki India (MSIL), the country's largest passenger vehicle manufacturer, has shared the teaser image for its first electric vehicle product - the e Vitara.

Set to be unveiled at the Bharat Mobility Global Expo 2025, the e Vitara will be made in India for the world. It was recently unveiled by Suzuki Motor Corporation at Milan, Italy.

Partho Banerjee, Senior Executive Officer, Marketing & Sales, Maruti Suzuki India, said, “The e Vitara is a testament of our unwavering commitment to sustainable mobility and technological innovation. With decades of automotive expertise, we have combined advanced electric technology with a customer-first approach to deliver something truly transformative. At Maruti Suzuki, we have always believed that to promote EV adoption, we need to create a holistic ecosystem that simplifies customers' battery electric vehicle ownership journey.”

“A critical barrier to the adoption of EVs is the lack of accessible charging. To tackle this issue, we are committed to introduce a reliable and comprehensive EV ecosystem alongside the e Vitara. This will include home charging solutions as well as a nationwide network of fast chargers available at Maruti Suzuki dealerships and service touchpoints. Our goal is to make EVs accessible, convenient, and appealing to a broader set of customers, and this is exactly what we have set out to achieve with the e Vitara,” he added.

​​Vadodara-headquartered electric vehicle company WardWizard Innovations & Mobility recently launched its new range of EV offerings, which it expects to give a new charge to its retail sales.

It was on 13 December 2024 the Joy e-rik V1 (L5) and Joy Bandhu (L3) electric three-wheelers in the passenger category and Joy Sahayak + Cargo (L5) and Joy Eco Loader (L3) in the electric three-wheeler cargo space were launched by the EV maker, thus marking its entry into the fast-growing electric three-wheeler space.

The Joy e-rik V1, priced at INR 385,000 (ex-showroom), comes with 10.24 kW li-ion battery, 50 kmph max speed and 140 km claimed range on a full charge. It can be charged in 4.5-5 hours using the 50 Amp charger.

The Joy Bandhu priced at INR 134,000, uses a 7.2 kW lead-acid battery, has a claimed range of 120 km and top speed limited to 25 kmph.

On the other hand, the Joy Sahayak + Cargo, priced at INR 424,000, is targeted for payload capacity of 650 kg + driver, max speed of 50 kmph, up to 130 km range on a single charge. It uses a 10.2 kW LFP li-ion battery and can be charged in four hours using 50 Amp charger. The Joy Eco Loader, on the other hand, comes with a payload capacity of 310 kg + driver and is priced at INR 130,000.

At present, electric three-wheeler sales in India are averaging 56,674 units a month (CY 2024) as compared to 47,204 units last year. What’s also driving the sales is the government incentives like the Centre’s PM E-Drive scheme that provides demand incentives to support purchase of 316,000 e-three-wheelers including e-rickshaws. They are entitled to a subsidy of INR 25,000 in the first year and INR 12,500 in the second year. For the L5 category (cargo e-three-wheelers), the incentive is INR 50,000 per unit in the first year and INR 25,000 the next.

For the Vadodara-based EV maker, the idea to enter the electric three-wheeler space is on the back of the growing demand for greener last-mile delivery as well as last-mile mobility connectivity options.

Interestingly, it has already onboarded 27 dealerships that will focus on selling electric three-wheelers. Furthermore, it will also provide preference for its around 900 existing dealer and network partners to sell its new offerings.

For FY2025, WardWizard Innovations & Mobility estimates to sell around 50,000 units of electric vehicles across electric two-wheelers (low speed and high speed) and three-wheelers (L3 & L5) in India. It estimates that the sales will grow by 22-24 percent YoY in FY2026.

While it has recently entered the e-three-wheeler space, the company expects the new products to have around 30-35 percent share in its overall sales starting from FY2026.

On the other hand, reducing its reliance on low-speed electric two-wheeler category, the company also introduced a new high-speed e-scooter ‘Nemo’. Priced at INR 99,000 (ex-showroom), it comes with a 40 Ah NMC li-ion battery and a 1,500W DC brushless hub motor that gives it a max speed of 65 kmph. It has a claimed range of 130 km on a single charge in Eco mode. The e-scooter uses a digital speedometer, 5-inch full-colour TF display and projector LED headlight. The company has targeted a modest 2,000 units sales for Nemo in the next three months.

The EV maker currently has an installed capacity to produce 73,000 electric two-wheelers, 7,300 L5 electric three-wheelers and 18,250 L3 electric three-wheelers per annum. The company claims that apart from some plastic components and cells being imported, everything has been localised.

It further aims to start manufacturing its own batteries in the next one year in Vadodara, for which the pilots are underway.