Omega Seiki Mobility (OSM) stands at the forefront of the electric vehicle (EV) industry, driving innovation in sustainable transportation. Founded with a bold vision to transform urban mobility, the company excels in designing and manufacturing electric two-wheelers, three-wheelers, and four-wheelers for both commercial and personal use. Omega Seiki Mobility distinguishes itself through its integration of advanced technology and eco-friendly practices, significantly reducing carbon footprints and enhancing energy efficiency.
The company’s flagship offerings, including electric scooters and cargo vehicles, cater to diverse needs while delivering exceptional performance, durability, and cost-effectiveness. By harnessing state-of-the-art battery technology and smart connectivity features, Omega Seiki Mobility ensures that its solutions are not only reliable but also user-friendly.
With a mission to champion green mobility, Omega Seiki Mobility invests heavily in research and development, striving to set new industry standards. The company’s expanding market presence underscores its pivotal role in shaping the future of sustainable transportation, aligning with global trends toward environmental responsibility and energy conservation.
In an exclusive conversation with The Interview World, Vivek Dhawan, Chief Strategy Officer of Omega Seiki Mobility, discusses the company’s strategies for reducing carbon emissions through innovative electric vehicles. He provides insights into market share, user feedback, and highlights how the company’s proprietary fast-charging infrastructure offers EV owners a seamless driving experience in the city. Here are the key takeaways from his illuminating interview.
Q: How do you plan to leverage your cutting-edge electric vehicles to reduce carbon emissions over the next 3-4 years?
A: Staying at the forefront of technological advancements is imperative, yet it remains a formidable challenge. Our current focus is on lithium iron phosphate (LFP) battery chemistry, a crucial component in our electric vehicle (EV) strategy. However, we are not resting on our laurels; our R&D team is actively exploring additional cutting-edge technologies to stay competitive in electric mobility.
The economic viability of EVs remains a critical issue. Presently, the cost of EVs is approximately 1.3 times that of traditional diesel vehicles, which is still not acceptable from a consumer standpoint. To make EVs more affordable and competitive, it is essential to innovate with technologies that are not only cost-effective but also scalable across the supply chain. Our goal is to achieve this through continuous R&D efforts. The current production of 7,000 to 8,000 EVs per month is a starting point. To meet future demands, we aim to scale up production to 70,000 or even 75,000 units monthly over the next three years. This ambitious target hinges on the development of scalable and efficient technologies.
In addition to cost considerations, commercial viability is paramount. We are committed to introducing electric mobility technologies that are not only innovative but also practical and widely accepted in the market. This focus ensures that our advancements are aligned with market needs and financial feasibility.
Another crucial aspect is the impact on employment. Our initiatives must not only focus on reducing carbon emissions but also on creating tangible benefits for the community. Currently, many drivers earn approximately 1,500 rupees a day. By enhancing our technology and business model, we aim to help these individuals increase their earnings to 3,000 or 3,500 rupees daily. Improving their quality of life and livelihood is a significant social outcome that we strive to achieve.
Finally, we are also venturing into the two-wheeler market, which constitutes around 75% of the vehicle population. Despite the market’s highly commoditized nature, it presents substantial opportunities for growth. However, succeeding in this space requires significant financial investment and strategic planning.
Q: What is your current market share in the electric three-wheeler segment?
A: To clarify, our market presence is strong in two key segments. In the cargo category, we capture nearly 18% of the market. For the passenger category, our share is approximately 8-9%. These figures underscore our significant position in cargo transport and our growing influence in passenger mobility.
Q: How are users, drivers, and fleet owners responding to your electric vehicles?
A: The return on investment (ROI) we offer is exceptionally favorable, making it remarkably easy to persuade stakeholders to commit to the initial investment. Typically, they recover their costs within just 7 to 8 months, demonstrating the strong financial benefits of this venture.
The response from the market has been overwhelmingly positive. However, our current production output is constrained, with only 7,000-8,000 units being produced monthly. This limitation stems from an inefficient supply chain, which is our primary challenge at the moment.
We have made significant strides in other areas: we have established state-of-the-art factories, built efficient production lines, and developed a robust network of nearly 200 dealerships across the country. Constructing this network has been a complex process, spanning the last three years. We have completed the essential infrastructure, set up operational manufacturing units, secured product approvals, and successfully implemented dealership agreements.
Q: What steps are other leading manufacturers in the three-wheeler industry taking toward transitioning their production to electric vehicles?
A: Firstly, I firmly believe that merely transitioning an established player won’t necessarily draw significant attention to this industry. Our vision goes beyond such incremental changes. Just as Ola and Ather have revolutionized the two-wheeler sector, we are poised to introduce similar innovations in the three-wheeler market. Our strategy is not to focus on the actions or shortcomings of existing giants. Take, for example, the largest player in the country, which commands approximately 66% of the market share yet has only managed to achieve around 10% penetration in electric vehicles.
In contrast, we are committed to proving that even a smaller company like ours can achieve remarkable results. We are targeting a market size of 800,000 units and are dedicated to capitalizing on this potential. Our goal is to make a significant impact, irrespective of the current efforts of established industry leaders.
Q: How is your company addressing the concern of charging time? What specific measures are being taken to reduce charging durations and improve overall efficiency?
A: Omega Seiki Mobility has unveiled a revolutionary auto rickshaw capable of charging in just 15 minutes—far exceeding typical charge times of 30 minutes to three and a half hours. This remarkable innovation has already been introduced in Bengaluru, with the next phase set for Delhi. We are in the process of finalizing necessary permits for Delhi, and once these are in place, we will proceed with the rollout. This advancement marks a significant leap forward in the electric vehicle industry.
Q: How far can your electric three-wheeler travel on a single full charge?
A: The concern over the duration of a single charge is mitigated by the availability of convenient recharging options. Presently, an auto driver generally operates their vehicle for up to 120 kilometers per shift. This electric vehicle, however, can cover about 100 kilometers on a single charge. With a swift 15-minute recharge, the driver can extend their range by another 100 kilometers. Thus, by optimizing charging and driving efficiency, a driver can potentially achieve up to 200 kilometers within an 8 to 10-hour shift. This flexibility ensures that the vehicle meets the demands of daily use effectively.
Q: Will your services include the provision of charging infrastructure as well?
A: Our chargers are exclusive to us, similar to Tesla’s proprietary technology in the U.S. We have successfully deployed 40 of these advanced chargers in Delhi and approximately 40 to 50 in Bengaluru. These cities represent our initial focus areas, where we will scale up operations. Following this, we plan to expand our network to other regions, systematically increasing our footprint and enhancing accessibility to our cutting-edge charging solutions across a broader geographic range.
