Get Instant Loan up to ₹10 Lakh!
OSM-Log9 to deploy 10k 3W fast chargers by FY24, plans ₹150 crore investment
- These deployment will happen in Tier II and III markets
Omega Seiki Mobility (OSM) and Bengaluru-headquartered advanced battery technology startup Log9 Materials, announced a strategic partnership to deploy 10,000 3-Wheeler Rage+ Rapid EV’s in Tier II and III markets of India by FY24. Supporting these 3W EV Cargo Loaders both companies will facilitate deployment of InstaCharging stations that can charge a 3W completely within 35 minutes, as compared to up to 3.5 hours taken by conventional 3Ws.
Omega Seiki Mobility and Log9 will facilitate 150 crore investment in Fast Charging infrastructure across the nation by FY24. Alongside, Log9 and OSM will also be instituting fleet partners in each of these cities/towns who will be the first adopters and the ambassadors of EV technologies for their respective markets.
Omega Seiki Mobility has been growing its product line up and manufacturing footprint in India. The company is the first OEM to have 2,3 and 4 wheelers in its product portfolio. The company has set up large scale manufacturing facilities in Delhi NCR and now looking to expand in Pune.
Uday Narang, Founder & Chairman, Omega Seiki Mobility said, “Omega Seiki Mobility is born electric OEM which aims to ‘empower electric mobility in India’ in its truest sense. Currently, the last-mile delivery ecosystem is growing leaps and bounds, switching to EVs in Tier II and III becomes a must to counter environmental concerns due to vehicular emissions as Two-Third of India resides in Tier II, III and smaller towns. E-3Ws, owing to their low operating and maintenance costs along with zero tail-pipe emissions, make an economically viable and environmentally friendly option for commercial use for these cities.”
Akshay Singhal, Founder & CEO, Log9 Materials adds, “We firmly believe that India’s vision to turn into a fully EV-led nation by 2030 cannot be met unless the Tier II and III cities and towns join the movement and add further fuel to the nation’s e-mobility and clean energy transition. With B2B last mile deliveries still evolving yet accelerating in a major way in the Tier II and III markets, we are confident that this initiative by Log9 and OSM will give further impetus to EV adoption in these areas. Plus, adopting EVs will also in the long run prove to be more profitable compared to the ICE vehicles.”
Catch all the Auto News and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
Business NewsAuto NewsOSM-Log9 to deploy 10k 3W fast chargers by FY24, plans ₹150 crore investment
First Published:8 Apr 2022, 09:45 PM IST
- Top Gainers
- Top Losers
- 52 Week High