Omega Seiki Mobility (OSM) enters a Joint Venture with iM3NY becoming the First-Ever Brand to bring US battery cell technology in India
OSM to produce 6 HIGoTM powertrains for power capacities from 7 KW to 34 KW using its own Korean Technology Capacities
Company invests 800 Crore to Set up two New Green Field Manufacturing Facilities for Manufacturing of Components, becoming India’s first completely Integrated Electric Vehicle OEM
New Delhi, 29th January, 2023: Omega Seiki Mobility (OSM), a part of the Anglian Omega Group today announced a joint venture with iM3NY, a prominent battery technology player in the US, to bring battery cell technology in the Indian market for the first time from the subcontinent. Also, OSM previously signed a Joint Venture with Jae Sung: Korean Technology Player, for manufacturing of localized EV powertrains fuelled by Jae Sung’s expertise and technology prowess. A total of 6 variants of the powertrain company have been developed from 7.5 KW to 34 KW for the entire range of OSM’s electric Vehicles. Making Omega Seiki Mobility the India’s first completely integrated electric OEM, manufacturing with its own Battery packs, Power trains, metal assemblies, Vehicles and providing mobility solutions.
Post the COVID-19 pandemic, the world economy faced a meltdown and its aftermath has established major challenges for the global EV supply chain. With slower shipments, global political unrest, price hikes across raw material sources, inflated demand, and strained relations with the Chinese economy, Making India’s Atmanirbhar mission a primary focus. India’s battery market accounts for a total demand of 3GWh and is slated to increase to 20 GWh in 2026 and 70 GWh in 2030. With the requirement of enhanced battery pack manufacturing capacity, India also requires quality-oriented focus and delivery. As of now, the focus of players in the segment has been local manufacturing using local materials and technology. At this juncture, Omega Seiki Mobility to set up two New Green Field Manufacturing facilities to manufacture the components. The company already has four state-of-the-art manufacturing factories for its electric vehicles in Delhi NCR and Pune. The company has lined up an investment of 800 cr. for setting up component facilities.
While Signing of the JV, Mr. Uday Narang, Founder and Chairman, Omega Seiki Mobility said "Omega Seiki Mobility is India's first fully integrated electric vehicle OEM with its own Battery, Power train technologies. These technologies give us the control over the critical parts of the supply chain thus helping us become a large scale player in the industry. As cell and battery technologies are evolving rapidly, any serious OEM will need to continuously invest in them. Alliance with iM3NY ensures our access to a world class technology in batteries. Similarly, Power trains are evolving into high efficiency, integrated systems which Jae Sung Korea brings to us. I compliment both my partners and welcome them to India ".
iM3NY is a leading player in Li-ion batteries in the USA. Founded by a group of companies including C4V, Magnis Energy Technology, and others, and led by ex-Tesla employee Chaitanya Sharma, iM3NY operates a Gigafactory in upstate New York. The company targets both the ESS and EV markets. iM3NY Li ion cells utilize a cutting edge and differentiated technology known as Bio mineralized Lithium Mixed Metal Phosphate (BM-LMP). This chemistry touts a number of advantages over typical LFP chemistries, from increased energy density to improved cycle life. This will translate to better-performing packs for EV applications.
Commenting on the occasion, Chaitanya Sharma, iM3NY’s CEO, said "We are incredibly excited to work with Omega Seiki, a like-minded partner with a future-focused mind-set. This partnership is strategically important for the electrification of the automotive industry, an undeniable trend that iM3NY is proud to be a part of. "
EV Powertrain consists of motor, gear reducer unit and controller. This is the critical part which powers the vehicle. Omega Seiki will manufacture these along with Jae Sung Korea as their JV partner. Speaking on the powertrain, Mr. Narang said "Our Power trains have always been high quality and reliable. Now we are very pleased to bring the next generation of motor, controller and gear unit technology to India. This is an integrated design which packs in more power, efficiency and acceleration at a much cheaper cost. I am very pleased with the work done by partners Jae Sung and team".
Jae Sung Tech Korea is a leading design and product development company in South Korea. They specialise in system design and integration of Power trains for various categories of EVs starting from golf carts to cars. Lee Hyunjin, President of Jae Sung Korea said "We are very pleased to tie up with Omega Seiki who are the market leaders in electric 3 wheelers. We have designed our Higo Power trains for India keeping Indian driving conditions in mind. These are integrated design, 20% light weight and have more power than existing powertrains. This makes the vehicle lighter and gives more mileage. We have developed 6 variants from 7KW to 34 KW which we -will bring to our India JV. I am very excited by this alliance ".
Omega Seiki Mobility believes in creating sustainable mobility solutions with integrated approach of connecting Automobiles and the Society. The brand’s focus is to eventually create a clean ecosystem with eco-friendly, safe and congestion free mobility. OSM is one of India’s leading clean energy incubators and has become synonymous with India’s sustainability success. The electric vehicle manufacturing company aims to fast-track future mobility, with green energy at its core, by implementing data-driven, smart engineering.