Omega Seiki Mobility (OSM) is a pioneering force in the electric vehicle industry in India, offering comprehensive mobility solutions. As part of the Anglian Omega Network, OSM extends its presence across six countries, including India, U.A.E., Switzerland, Thailand, Japan, and Hong Kong.
In a casual chat with Aishwarya, Uday Narang, Chairman, Omega Seiki Mobility expressed his views on EV market growth and its adoption in Indian ecosystem.
According to the Economic Survey 2023, India’s domestic EV market will witness a 49% compound annual growth rate between 2022 and 2030, and the number of EV units sold annually will touch 10 million by 2030. What are the expected challenges and opportunities do you see in this rapidly evolving field in 2024?
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The anticipated surge in the domestic Electric Vehicle (EV) market, as projected by the Economic Survey 2023, underscores a transformative period in the automotive industry. The projected 49% compound annual growth rate from 2022 to 2030, culminating in an annual sale of 10 million EV units by 2030, presents both challenges and opportunities that demand strategic consideration.
The growth trajectory, articulated by Hon’ble Transport Minister Shri Nitin Gadkari, indicates a paradigm shift across various segments of the EV ecosystem, encompassing B3, B2, B4, and passenger vehicles. The unfolding opportunities within this space are indeed boundless. The recent strides in electric three-wheelers and two-wheelers, achieving a 50% penetration rate, exemplify this upward trajectory. Forecasts suggest an imminent surge, with an expected 80% penetration within the next five years. Additionally, the cargo segment is projected to achieve a 30% adoption rate, albeit challenges persist in the passenger vehicle segment.
While the sector has made remarkable progress, a significant hurdle persists in the form of the inadequate charging infrastructure, particularly outside tier 1 cities. Addressing this challenge is paramount for achieving the ambitious goal of electrifying 750 districts, where 70% of the population resides. A comprehensive ecosystem development plan in tier 2, 3, and 4 cities is imperative to facilitate widespread EV adoption. The pressing need for a robust charging network in these regions is crucial to dispel concerns and encourage EV uptake.
Historically, financing posed a substantial impediment to EV adoption. However, the commendable strides in addressing this challenge have significantly mitigated financing concerns. With the financing aspect largely addressed, the focus must now shift towards building a resilient charging infrastructure to realize the full potential of the burgeoning EV market.
Tell us OSM’s key offerings and what differentiates their products from its domestic competitors?
Omega Seiki Mobility (OSM) has positioned itself as a trailblazing force in the Indian electric vehicle (EV) sector with a diverse portfolio of innovative offerings, setting it apart from domestic competitors. Our key offerings and differentiators can be summarized as follows:
Innovative Product Range:
OSM boasts a diverse product portfolio catering to a wide range of applications and customer needs in the EV sector. Notable offerings include the flagship Rage+ electric three-wheeler, known for its impressive range, versatility in last-mile delivery and Stream and Stream City for passenger transportation. The Rage+ stands out with its comprehensive battery options, providing users the flexibility to choose between fixed, swap, and fast charging solutions. The Rage+ RapidEV, featuring a rapid 35-minute charging capability, addresses the convenience of long journeys. Industry-specific demands are met with offerings like the Rage+ Frost for cold chain logistics and the Rage+ Tipper for eco-friendly construction practices. Additionally, our line-up includes electric two-wheelers (Mopido and Sharq) and a range of electric trucks, providing comprehensive solutions for various sectors.
Backward Integration for Quality Control:
OSM has strategically embraced backward integration, exercising control over critical components such as powertrains and batteries. Collaborations with industry leaders like Jae Sung Tech Co. Ltd. for powertrains and C4V for batteries ensure cutting-edge technology and the highest standards of quality. This meticulous control throughout the production process distinguishes OSM in terms of reliability and excellence, setting us apart from competitors.
Customization and Specialization:
OSM stands out by identifying niche market opportunities and tailoring EV solutions to specific industries. The refrigerated cargo E3V, Rage+ Frost, designed for the cold chain logistics industry, exemplifies our ability to provide customized solutions for unique industry requirements. This level of specialization demonstrates our commitment to meeting diverse market demands.
Pioneering Electric Trucks:
OSM’s bold move into the electric truck segment positions us as a pioneer in providing eco-friendly commercial vehicles. This strategic differentiation addresses the increasing demand for sustainable transportation solutions in the commercial sector, setting OSM apart from competitors.
Practical and Long-Range EVs:
OSM has achieved a notable milestone by offering the longest-range electric vehicle in the market, the E3V, Rage+ Viktor. This practical innovation aligns with the growing need for EVs with extended ranges, making our products suitable for both urban and long-distance travel. The practicality of our long-range EVs further differentiates us in the market.
Green Manufacturing Practices:
OSM’s commitment to sustainability extends to its manufacturing processes. Transitioning to green energy sources, such as solar power, for all factories showcases our dedication to eco-friendly operations. The shift away from non-renewable energy sources positions OSM as an environmentally conscious industry leader.
In conclusion, OSM’s key offerings and differentiators lie in our diverse and innovative product range, commitment to quality through backward integration, customization for niche markets, pioneering electric trucks, practical long-range EVs, and sustainable manufacturing practices. These factors collectively position OSM as a leader in the Indian EV industry, offering unique and forward-thinking solutions that set us apart from domestic competitors.
Last-mile delivery has gained huge traction since COVID-19 era. Tell us about UNOXpress and how does its services benefit its partners and drivers alike?
UNOXpress, the logistics arm of OSM, stands as the largest electric fleet management company in India, catering to the burgeoning demand for last-mile delivery solutions that gained significant traction during the COVID-19 era. Distinguished by its commitment to sustainability and innovation, UNOXpress plays a pivotal role in the first mile, middle mile, and last mile delivery segments, with a current fleet of over 3000 vehicles.
Our strategic partnerships with industry leaders such as Amazon, Flipkart, Zomato, Blinkit, Porter, Uber Zepto, Big Basket, Swiggy, Blue Dart, Jio Mart, and Rapido underscore our position as a trusted service provider in the logistics landscape. Looking ahead, UNOXpress is poised to scale its impact, with an ambitious target of expanding its fleet to 10,000 vehicles within the next two years.
UNOXpress operates on a dual-service model, offering vehicle leasing to other logistics companies and an integrated fleet management system that provides end-to-end solutions for our customers. This comprehensive suite includes leasing of vehicles, robust charging infrastructure, and the deployment of ground supervisors to streamline operations. The cost-effective nature of our services translates to significant savings for our partners, encompassing reduced transportation costs and operational efficiencies.
Our commitment to sustainability is exemplified through the incorporation of cutting-edge technologies, including IoT integration for real-time tracking, low charging costs, and extended range capabilities. Notably, our electric vehicles benefit from no-entry restrictions, enhancing productivity and efficiency for our partners in diverse operational environments.
In an industry grappling with high driver attrition rates, UNOXpress stands out with a current workforce of over 1,000 dedicated driver partners. Recognizing the pivotal role they play, we provide our drivers with additional perks, attractive incentives, bonus salaries, and comprehensive coverage through ESIC and Provident funds, ensuring their well-being and security in unforeseen circumstances.
What is SuryaaUday and how will it transform the face of last-mile delivery in the long-run?
SooryaUday represents a ground-breaking initiative that seamlessly integrates drone and electric vehicle (EV) technologies into a unified platform. This innovative platform is poised to revolutionize various sectors, including logistics, agriculture, healthcare, and more, by harnessing the collaborative power of EVs and unmanned aerial vehicles (UAVs).
Primarily conceived as a drone platform, SooryaUday extends its reach far beyond aerial operations. In the agricultural sector, healthcare domain, and particularly within the expansive logistics space, SooryaUday emerges as a multifaceted solution for enhancing operational efficiency and transforming last-mile delivery dynamics.
In logistics, where we proudly stand as one of the largest players, SooryaUday’s integration of EVs and UAVs holds the potential to redefine last-mile delivery strategies. By combining the strengths of electric vehicles for ground transportation and drones for aerial coverage, we aim to create a comprehensive and agile solution that addresses the evolving demands of the logistics landscape across the nation.
The versatility of SooryaUday extends to the agricultural sector, where it can play a pivotal role in precision farming, crop monitoring, and other applications that leverage the synergy between electric vehicles and drone technologies. Similarly, in healthcare, the platform’s capabilities can be harnessed for swift and secure transportation of medical supplies, samples, and emergency interventions.
SooryaUday is not merely a drone platform; it signifies a transformative approach to technology integration across diverse industries. By fostering collaboration between EVs and UAVs, we envision a future where SooryaUday plays a pivotal role in elevating operational efficiency, reducing delivery times, and addressing challenges in sectors critical to the well-being of society. As we continue to expand our footprint, SuryaaUday stands as a testament to our commitment to innovation and sustainable solutions that transcend conventional boundaries.
Any key expansion plans or upcoming project, the company is working on?
Our company is currently embarking on significant expansion initiatives that underscore our commitment to advancing sustainable mobility solutions. One of our primary focus areas is the expansion of our electric three-wheeler offerings, particularly in the passenger segment. This strategic move aligns with the growing demand for eco-friendly transportation options, and we aim to play a pivotal role in shaping the future of urban mobility.
In addition to the electric passenger three-wheelers, we are proud to announce the forthcoming introduction of electric trucks. These one-ton trucks are designed to be competitive in terms of pricing with existing players in the market. This expansion into the electric truck segment represents our dedication to providing a comprehensive range of electric vehicles that cater to diverse transportation needs while ensuring cost-effectiveness and sustainability.
Furthermore, our commitment to passenger comfort and environmental consciousness is exemplified by the development of Muse, our air-conditioned passenger electric three-wheeler. This innovative vehicle seeks to elevate the commuting experience by combining the efficiency of electric propulsion with the luxury of air-conditioned travel. Muse represents a significant step towards redefining urban transportation, offering a blend of convenience and sustainability.
As we move forward, these expansion plans and upcoming projects reinforce our vision to be at the forefront of the electric mobility revolution. We are poised to meet the evolving needs of the market while contributing to a greener and more sustainable future in the transportation sector.