Stream City Qik, is a new product from e-mobility company Omega Seiki Mobility and Exponent Energy. It is priced at Rs 324,999, ex-showroom.
According to the business, the Stream City Qik can reach full charge using Exponent Energy’s rapid charging stations, which are now available in six locations, in just 15 minutes. With the rollout, the e3W will first be available in Bengaluru and Delhi. With an 8.8kWh lithium-ion battery pack from Exponent Energy, the electric three-wheeler has an ARAI-certified range of 126 km.
With a five-year or 200,000-kilometer warranty, the Stream City Qik electric three-wheeler is said to enable drivers to increase their monthly income by up to 30% by minimising vehicle downtime while charging.
“With its 15-minute rapid charging capability powered by Exponent, drivers now have the power to revolutionise their earnings potential. Through the reduction of idle time and optimisation of productivity, while driving, Qik guarantees that each trip results in measurable financial benefits for our drivers,” says Uday Narang, Founder and Chairman of Omega Seiki Mobility.
“Our dedication to innovation goes beyond the development of new technologies; it encompasses improving livelihoods, encouraging economic independence, and promoting constructive community change. Exponent is all about granting people flexibility and freedom so they can all transition smoothly to electric vehicles. Our 15-minute rapid charge maximises earnings and flexibility; nevertheless, a longer battery guarantee allows for better financing conditions and lower monthly instalment payments. This dual benefit of maximum revenue and lower cost unlocks the highest possible profit a user can extract from their Exponent-powered EV compared to any other EV or ICE vehicle.” Said Arun Vinayak, Co-Founder & CEO of Exponent Energy.
As part of its growth plans, Omega Seiki Mobility aims to expand its reach from its existing 200 outlets to 350 outlets by end-FY25. The company is targeting cities in Bihar, Madhya Pradesh, Kerala, Karnataka, West Bengal, and Uttar Pradesh. While it is also aiming for overseas expansion in markets such as Africa, Latin America, ASEAN and the Middle East, the company also plans to roll out a new 1-tonne truck in India around September 2024.
Omega Seiki Mobility is also exploring multiple strategic partnership opportunities to fund its future growth ambitions. “We are looking at multiple opportunities and will keep investing on our own until we find a long-term strategic partner. We are looking to liquidate around 26 per cent of equity, only with a strategic partner.
“We are currently in discussions with multiple partners and want to ensure that we consider the right one,” revealed Narang.
The company is also planning to expand its manufacturing footprint by commissioning a new plant in Tamil Nadu by end-CY24. The new facility will augment its existing capacity across its two plants in Delhi-NCR and Chakan (Pune) to 50,000 units by the end of FY26.