omega seiki Mobility: electric vehicle manufacturer Omega Seiki Mobility partners with Grip Invest and plans to lease 5,000 electric vehicles by 2023

Electric vehicle manufacturer Omega Seiki Mobility has formed a strategic partnership with Grip Invest for lease financing to retail investors, with the aim of meeting the growing demand for electric vehicles in the last-mile delivery segment. As part of the collaboration, Grip Invest, which is a digital platform to facilitate new era investments, will fund 1,000 of the company’s Rage+ Rapid e-three-wheelers, with expansion plans at a minimum of 5,000 electric vehicles by the end of next year. , says Omega Seiki.

The electric vehicle maker says it has an existing backlog of more than 40,000 commercial electric vehicles.

Commercial electric vehicle rental demand is very robust due to low total cost of ownership, which is further fueled by e-commerce players increasing their fleet of electric vehicles, the company said.

According to Omega Seiki Mobility, the global commercial vehicle rental and leasing market, which was valued at USD 77.42 billion in 2021, is expected to multiply over the next five years.

The lack of affordable financing options has proven to be a major barrier for low-income customers to switch to electric vehicles, said Uday Narang, founder and president of Omega Seiki Mobility.

“OSM is exploring different ways to rent and supply electric three-wheelers, furthering the current push for electric vehicles in the country. The collaboration with Grip Invest will help strengthen the foothold of the electric vehicle in the existing market and accelerate the electrification campaign,” Narang added. .

The company believes that the only way to succeed in the electric vehicle market is through association, he said, adding: “As a result, Omega Seiki has entered into multiple partnerships to make these vehicles more accessible and affordable and continue to drive green”.

Electric three-wheelers are an emerging segment, where renting the vehicle seems to be a beneficial preposition for both ends, said Vivek Gulati, co-founder-COO, Grip, stressing that the collaboration will be an important step in democratizing and the organization. Electric vehicle leasing financing sector.

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