Omega Seiki To Invest Rs. 100 Crore for EV Manufacturing Unit in UP

A member of the Anglian Omega Group, Omega Seiki Mobility (OSM), has signed a Memorandum of Understanding (MoU) with Youth Rural Entrepreneur Foundation (YREF) to set up an electric vehicle (EV) manufacturing facility in Ghazipur, Uttar Pradesh.

The Indian OEM has also announced to invest Rs 100 crore for the EV manufacturing unit in the state that will be creating around 10,000 jobs in the coming two years in Ghazipur.

The Youth Rural Entrepreneur Foundation operates closely with the central and state governments to create self-employment opportunities for rural youth of the country. This foundation has been working with government and non-government organizations to generate enough entrepreneurial opportunities for rural youth in their regions.

Speaking of the partnership, the Founder of Omega Seiki Mobility, Mr. Uday Narang states, “We are thrilled to partner with YREF. The pandemic has thrown at us a major challenge, but it has also brought in our hands a plethora of opportunities. We believe that electrification of the transport sector is the first step to solve the problems of air pollution which has been plaguing our cities. That’s not all, we at OSM believe, that the EVs will also play a major role in targeting one of the biggest problems India is facing now – unemployment.”

There are almost 6.5 lakh villages in India, of which more than a lakh are in Uttar Pradesh. This program will serve as part of the central government’s Skill India campaign. Ghazipur is a pilot project for OSM and it is planning to manufacture EVs there and customize them based on the customer’s personal and business needs.

OSM will be the first major automotive company to set up a facility in this region. The company claims to take the Ghazipur model to Ayodhya and Varanasi and then to the entire country, after the completion of this project.

“Omega Seiki Mobility and YREF are dedicated to working towards creating employment in rural India under the Emblem ‘Mera Rojagar: The soul of India resides in India’. This partnership will be a responsible investment in the electric space for creating electric carts for street vending on electrical two- and three-wheelers,” said Mr. Sunil Singh, CEO, Youth Rural Entrepreneur Foundation.

He added, “The OSM factory would focus on the growth market of Uttar Pradesh, Bihar, Bengal, and Madhya Pradesh. We aim to target all the villages in India through our venture.”

Notably, Omega Seiki mobility has accounted for 9% of the total investments that have been made in the e-mobility and EV sector of the country during the first seven months (Jan-Jul) of the year 2021, according to a recent report.