Omega Seiki plans to launch electric tractor, cargo pick-up truck as part of expansion plan

PTI, Nov 29, 2020, 3:26 PM IST

New Delhi: Omega Seiki Mobility aims to bring in multiple electric products including two-wheelers, a four-wheeler cargo vehicle and a tractor over the next two years, as per a top company official.

The company, which is a part of the Delhi-based Anglian Omega Group, also aims to set up manufacturing facilities across various parts of the country.

Omega Seiki already has multiple manufacturing sites in Delhi/NCR. The company also plans to have around 200 dealerships across the country by the end of next year. It has earmarked an initial investment of Rs 200 crore for the projects and going ahead aims to raise another Rs 1,000 crore in order to fund the expansion plans.

“We are going to have factories and we are going to line up the products, we are going to be non-stop from here till next few years,” Anglian Omega Group Chairman Uday Narang said.

The company would consider taking various routes to raise the required capital to fund various projects, he added.

“We will try a combination of various things which may include going public, private equity, green bonds etc,” Narang noted.

Elaborating on the product pipeline, Omega Seiki Mobility Managing Director Deb Mukherji said the electric two-wheelers for both passenger and cargo segments would be introduced around April next year, while the four-wheeler for cargo and tractor would make way around next 2021-end or early 2022.

Commenting on electric two-wheeler range, he said the vehicles would be powered by lithium-ion batteries and would cater to last-mile deliveries.

“These scooters are already in advanced stages of testing and trial stages,” Mukherji said.

The electric pick-up truck would come with two-tonne payload and would cater to last-mile cargo delivery, he added.

“The market is moving towards higher payload. With the development of highways like the Delhi-Mumbai corridor and other similar kinds of projects, we see this is going to be a big driver of electrification in India particularly in logistics space as all along the highway there will be logistics hubs and warehouses,” Mukherji said.

The vehicles would be a great option to deliver cargo from such warehouses to city centres with its range of 200 kilometres in a single charge, he added.

Commenting on the electric tractor he said, the model would come with 30-40 HP power range and could be priced around Rs 10-12 lakh.

“We want to be the first mover in the electric tractor space and solve the problems of farmers with smaller land-holdings. Data shows 80 per cent of the farmers in the country hold less than an acre, so this is a huge market. The cost of preparing the land with diesel-powered tractors costs Rs 150 to Rs 200 for an hour whereas our product would cost Rs 20-Rs 30 an hour,” Mukherji said.

He said the company is currently witnessing a significant demand coming up for electric three-wheelers in southern India, primarily from e-commerce firms.

“We see around 40 per cent of the demand is being generated from there. So we are in an advanced stage of discussion with a possible partner for a facility there,” Mukherji said.

The company, which has recently set up dealerships in Hyderabad and Bengaluru, now plans to open 20 more outlets in Tamil Nadu, Karnataka and Kerala by this year-end.

“We aim to have around 200 dealerships across the country by the end of next year,” Narang said.

The company, which currently sells electric three-wheeler Rage, has also recently unveiled three new products Sun Ri (three-wheeler cargo), Ride (E-rickshaw), and Stream (passenger auto-rickshaw) which it plans to commercially launch in March next year.