PNB And OSM Partners To Provide Finance Options To Dealers

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Omega Seiki Mobility (OSM) has joined hands with Punjab National Bank (PNB) and signed a MoU aimed at helping dealer partners. This alliance aims to advance the reach of electric vehicles (EVs) nationwide by offering seamless financing options.

Omega Seiki Mobility, a subsidiary of the Anglian Omega Group, signed a MoU with PNB on 24 August. The company has established four advanced manufacturing units in India with a product range that includes two-wheelers, three-wheelers, and four-wheelers. Both entities are committed to driving economic growth while ensuring environmental responsibility. The alliance makes electric mobility dreams more achievable for the average citizen, also aligning with India’s national sustainability agenda.

This partnership between OSM and PNB goes beyond just the urban areas. Their combined vision sees electric mobility as a transformative force, aimed to uplift both urban and rural communities. Rural areas, in particular, stand to gain significantly with access to efficient and environment-friendly transportation, which is important for socio-economic development. Urban centres, on the other hand, benefit from green solutions addressing the growing environmental concerns.

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Mr Uday Narang, Founder and Chairman of Omega Seiki Mobility, shared his thoughts on this partnership, “This partnership is not just about numbers; it’s 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’re building a bridge to a greener, more inclusive future for every Indian. As we tap into the extensive network of Punjab National Bank’s branches across the nation, we’re expanding the horizons of electric vehicle ownership.”

Mr. Amitabh Rai, DGM- MSME, Punjab National Bank, highlighted the ease of accessibility this partnership would bring. He noted, “Punjab National Bank has teamed up with Omega Seiki Private Limited (OSPL) to offer seamless financing options for electric 3-wheelers! to provide eco-friendly mobility solutions. In this regard, a Memorandum of Understanding (MoU) was signed on 20/07/2023 at PNB HO: Dwarka by Sh. Amitabh Rai (DGM -PNB) & Sh. Udaychandra (Director, OSPL) aimed at providing seamless financing solutions for electric 3-wheelers and cargo loaders. PNB customers can now access exclusive and affordable financing options for electric 3-wheelers (Both passenger & cargo loaders) from Omega Seiki Mobility.”

Mr Rakesh Ranjan, Head of Retail Finance at Omega Seiki Mobility, underscored the broader implications of this partnership and feels that with PNB by their side, the company is not just advancing a business venture but also propelling India towards a future where electric mobility is a catalyst for socio-economic change.

OSM claims that the company has successfully financed over 8000 electric vehicles in the past, accounting for a disbursement of 350 crore rupees. With eyes on the future, OSM plans to invest another 300 crore rupees to finance 7500 electric vehicles over the next three years. OSM has previously collaborated with financial institutions such as IDFC and Indian Bank.

 

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Aryaman Raghuvanshi
Aryaman Raghuvanshi
Aryaman Raghuvanshi is a Journalist at EFY. His passion is to explore the future of mobility, which gets him to cover latest technologies shaping the future of automobiles and EVs. But, at times he writes on broader technologies too. LinkedIn: https://www.linkedin.com/in/aryaman-raghuvanshi-2431b7153

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