Omega Seiki Mobility Partners With Grip Invest For EV Lease Financing

- Advertisement -

The demand for leasing of commercial electric vehicles is very robust owing to the low-total cost of ownership, which is further fuelled by e-commerce players augmenting their EV fleet

In a bid to cater to the growing demand for electric vehicles in the last-mile delivery segment, Omega Seiki Mobility has formed a strategic partnership with Grip Invest for lease financing to retail investors.

Under the collaboration, Grip Invest, which is a digital platform for facilitating new-age investments, will finance 1,000 Rage+ Rapid e-three-wheelers of the company, with plans to expand to a minimum of 5,000 EVs by the end of the next year, Omega Seiki said.

- Advertisement -

The EV maker claims it has an existing order book of over 40,000 commercial electric vehicles.

The demand for leasing of commercial electric vehicles is very robust owing to the low-total cost of ownership, which is further fuelled by e-commerce players augmenting their EV fleet, the company said.

According to Omega Seiki Mobility, the global commercial vehicle rental and leasing market, which was valued at USD 77.42-billion in 2021, is expected to grow multi-fold over the next five years.

The absence of affordable financing options has proven to be a critical impediment for low-income patrons to change to EVs, said Uday Narang, Founder, and Chairman, of Omega Seiki Mobility.

“OSM scouts various ways to lease and supply electric three-wheelers, adding to the current EV thrust in the country. The collaboration with Grip Invest will work upon a stronger foothold of the EV in the existing market and accelerate the electrification drive,” Narang added.

The company believes that the only way to be successful in the EV market is through association, he said, adding, “Therefore, Omega Seiki has been inking multiple partnerships to make these vehicles more accessible and affordable and further its green drive.”

Electric three-wheelers are an emerging segment, where leasing out the vehicle appears to be a beneficial proposition for both ends, said Vivek Gulati, Co-Founder-COO, Grip, emphasizing that the collaboration will be a significant step ahead in democratizing and organizing the EV lease financing sector. 

- Advertisement -

Most Popular Articles

Applied Materials Representational Image

Applied Materials Selects Six Startups For Deep-Tech Accelerator Programme

0
The selected deep-tech startups will be evaluated for investment by Applied Ventures and potential collaboration opportunities with Applied Materials. In collaboration with the company's India...

Magenta Mobility Expands Electric Vehicle Operations In Uttar Pradesh

0
The company aims to deploy over 2,500 electric vehicles and hire 1,200 delivery partners by 2025 as it extends services to four new cities. Magenta...

PURE EV And Arva Electric Team Up to Boost Electric Mobility In Middle East,...

0
Increased fuel costs, enhanced efficiency of vehicles, and governmental incentives are boosting the popularity of electric motorcycles in the UAE. Indian electric two-wheeler company PURE...

India’s Lithium-Ion Battery Demand To Jump To 127GWh By 2030

0
India currently imports nearly all of its Li-ion batteries, but according to CareEdge Ratings, this dependency is anticipated to decrease to 20% by FY27....

PM Advisor Tarun Kapoor Calls For Review Of Tax On Batteries, EV Charging

0
Tarun Kapoor, Adviser to the Prime Minister, suggested that it might be necessary to reconsider the taxation on batteries. He also noted that the...
Abhishek Malik from Calcom Vision Limited

“India’s Electronics Sector Is Growing Rapidly, Making This The Decade For Investors To Engage”...

0
From the complexities of manufacturing and sourcing components to testing processes that drive innovation, know all the exciting dynamics shaping this ever-evolving industry in...
Sunit Kapur, CEO of Epsilon

“Epsilon Leads With Low-Carbon Graphite Manufacturing, Outpaces Chinese Competitors” – Sunit Kapur, CEO of...

0
Are LFP cathodes and silicon-graphite anodes the best for cost efficiency in EV batteries? Sunit Kapur, CEO of Epsilon Advanced Materials, discusses this with...
John W. Mitchell, President and CEO, IPC

“India’s Core Focus On 5G, IoT, AI Fosters Need For Advanced Electronics,Components, And Semiconductors”...

0
Will Industry 4.0 supercharge India’s progress in semiconductor and electronics manufacturing? IPC President and CEO John W. Mitchell shared more strategies on the country’s...
Raman M., Co-Founder and CEO, chargeMOD

“Our Goal Is To Achieve Complete Sustainability By 2025-2026” – Raman M. Of chargeMOD

0
In a conversation with Nitisha Dubey from EFY, Raman M. of chargeMOD, elaborated his goal of developing virtual power plants by decentralising power production. Q....

“Adoption Of IoT-Enabled SMT Machines Is Still In Early Phases” – Pradeep Tandon, Director...

0
While electronics are becoming smarter through the Internet of Things, is electronics manufacturing following suit? Pradeep Tandon, Director for India, Middle East, and SAARC...
Applied Materials Representational Image

Applied Materials Selects Six Startups For Deep-Tech Accelerator Programme

0
The selected deep-tech startups will be evaluated for investment by Applied Ventures and potential collaboration opportunities with Applied Materials. In collaboration with the company's India...

Space tech Startup Akash Secures $68M CHIPS Funding

0
Eyeing to power into AI, EVs, and more high-tech industries, Akash Systems lands $68 million CHIPS grant to boost its cooling tech facility, generating...

Wireless Light-Based Communication With Velmenni’s Technology

0
Velmenni is at the forefront of wireless communication innovation with its pioneering light-based technologies, Li-Fi and LC Link. Founded by Deepak Solanki in October 2014...

Harnessing AI Technology For Efficient Pest Management

0
AI-Genix, an agri-tech startup, is transforming pest management for farmers through advanced AI-enabled systems that precisely target harmful pests. In an industry where pesticides and...

One Charger To Charge All Your Devices

0
Now, there is no need to carry different chargers for different products. This Bhubaneswar startup has launched a universal 65W charger using GaN technology...

Industry's Buzz

Learn From Leaders

Startups