Omega Seiki to invest Rs 800 crore in EV powertrain and battery plants
EV manufacturer to set up greenfield plants for EV components in Haryana and Maharashtra; will produce e-powertrains from 7 kW to 34 kW with JV partner Jae Sung Tech of South Korea
Omega Seiki Mobility (OSM), a part of the Anglian Omega Group, today announced a joint venture with iM3NY, a leading battery technology player in the US, for battery cell technology and also a plan to manufacture e-powertrain parts and batteries in India.
Founded by a group of companies including C4V, Magnis Energy Technology and others, and led by ex-Tesla employee Chaitanya Sharma, iM3NY operates a Gigafactory in New York. iM3NY lithium-ion cells utilise a cutting-edge technology known as bio-mineralised Lithium Mixed Metal Phosphate (BM-LMP). This chemistry is claimed to have several advantages over typical LFP chemistries, from increased energy density to improved cycle life, which translates into better-performing packs for EV applications.
On January 6, 2022, OSM had signed a JV with Jae Sung Tech of South Korea for localised manufacture of EV powertrains. Jae Sung Tech Korea, a leading design and product development company, specialises in system design and integration of powertrains for EVs ranging from golf carts to cars. Six electric powertrain variants, ranging from 7.5 kW to 34 kW, have been developed for OSM’s range of EVs.
Uday Narang, founder and chairman, Omega Seiki Mobility said: "Omega Seiki Mobility is India's first fully integrated electric vehicle OEM with its own battery and powertrain technologies. These technologies give us the control over the critical parts of the supply chain, thus helping us become a large scale player in the industry. As cell and battery technologies are evolving rapidly, any serious OEM will need to continuously invest in them. The alliance with iM3NY ensures our access to a world-class technology in batteries. Similarly, powertrains are evolving into high efficiency, integrated systems which Jae Sung Korea brings to us.”
Integrated EV OEM
Omega Seiki Mobility manufactures electric three- and four-wheelers targeted at e-commerce, cargo and logistics companies in India.
OSM will now manufacture critical parts of the EV powertrain, which comprises the e-motor, gear reducer unit and controller, with Jae Sung Korea as their JV partner. Narang remarked: "Our powertrains have always been high quality and reliable. Now we are very pleased to bring the next generation of motor, controller and gear unit technology to India. This is an integrated design which packs in more power, efficiency and acceleration at a much cheaper cost.”
Lee Hyunjin, President of Jae Sung Korea said "We are very pleased to tie up with Omega Seiki who are the market leaders in electric three-wheelers. We have designed our Higo powertrains for India keeping Indian driving conditions in mind. These are integrated design, 20% lightweight and have more power than existing powertrains. This makes the vehicle lighter and gives more mileage. We have developed six variants from 7KW to 34 KW which we will bring to our India JV.”
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