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The company has planned for spending INR 300 crores over the following three years to finance an additional 7,500 electric automobiles.
Date: August 25, 2023
New Delhi- Omega Seiki Mobility Pvt Ltd., partners with Punjab National Bank (PNB), to offer financing options for electric vehicles. This collaboration aims to increase the affordability and accessibility of electric mobility for individuals all throughout the nation.
Through its extensive network of more than 175 dealer touchpoints, Omega Seiki Mobility (OSM) has successfully retailed over 8000 cars, generating a sizeable retail finance value of more than INR 350 crores. The corporation intends to use its current network of retail financiers to finance automobiles worth INR 300 crores as part of the programme.
To meet the demands of Omega Seiki Mobility's clients nationally, Punjab National Bank (PNB) is preparing to increase the range of financial products it offers.
A Memorandum of Understanding (MoU) was officially signed between Omega Seiki Mobility (OSM) and Punjab National Bank (PNB). This partnership's main objective is to expedite the finance of vehicle inventories for OSM's dealer partners while also offering comprehensive retail financing solutions to their varied customers.
The funding of 8000 electric vehicles, which demonstrates Omega Seiki Transportation's dedication to enhancing sustainable transportation, results in a sizeable payment of INR 350 crores. This huge investment shows their continuous dedication to hastening the uptake of electric vehicles across India.
The company has planned for spending INR 300 crores over the following three years to finance an additional 7,500 electric automobiles. To achieve industry-wide acceptability for electric vehicles, it is essential to provide distinctive, affordable financing options that can be adapted to both rural and urban clientele.
Uday Narang, Founder and Chairman of Omega Seiki Mobility, said, " As we tap into the extensive network of the bank's branches across the nation, we're expanding the horizons of electric vehicle ownership. This partnership doesn't merely enable transactions; it's about empowering individuals, families, and communities. It's about giving wings to aspirations and turning them into reality."
Amitabh Rai, DGM- MSME, Punjab National Bank said, “Under this partnership, PNB customers can now access exclusive and affordable financing options for electric 3-wheelers (Both passenger & cargo loaders) from Omega Seiki Mobility.”
Rakesh Ranjan, Head of Retail Finance at Omega Seiki Mobility, highlighted the significance of the partnership, "In synergy with Punjab National Bank, we aspire to empower rural India with cleaner and more efficient transportation options, propelling socio-economic development and reducing carbon footprints."
