Omega Seiki partners Exponent Energy, introduces quick-charging e3W

The EV startup aims to expand to 350 touchpoints by end-FY25 and grow manufacturing capacity to 50,000 units by FY26.

By Mayank Dhingra  calendar 12 Apr 2024 Views icon4743 Views Share - Share to Facebook Share to Twitter Share to LinkedIn Share to Whatsapp
(L-R) Uday Narang and Arun Vinayak

(L-R) Uday Narang and Arun Vinayak

E-mobility startup Omega Seiki Mobility has partnered Bengaluru-based rapid charging solutions provider Exponent Energy to introduce Stream City Qik - claimed to be the world's fastest charging passenger-carrying electric three-wheeler at Rs 324,999, ex-showroom. 

The company says the Stream City Qik has the capability to charge to 100 percent within 15 minutes at Exponent Energy’s fast charging stations, currently present in six cities. The e3W will initially be offered in Delhi and Bengaluru with the roll out. The electric three-wheeler boasts an ARAI-certified range of 126km, being equipped with the Exponent Energy 8.8kWh lithium-ion battery pack. 

The Stream City Qik electric three-wheeler offers a five-year or 200,000km warranty, with claims of empowering drivers to grow their monthly incomes by up to 30 percent by significantly reducing the vehicle downtime during charging.

According to Uday Narang, Founder and Chairman, Omega Seiki Mobility, “With its 15-minute rapid charging capability powered by Exponent, drivers now have the power to revolutionise their earnings potential. By minimizing downtime and maximising efficiency on the road, the Qik ensures that every journey translates into tangible financial gains for our drivers.”

“Our commitment to innovation extends beyond technological advancements, it's about elevating livelihoods, fostering economic independence, and driving positive change in communities,”

“Exponent is all about unlocking freedom & flexibility so that everyone can go electric seamlessly. On one hand, our 15-minute rapid charging maximises freedom and earnings; on the other hand, a longer battery warranty enables better financing terms and reduces monthly EMIs. 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, Exponent Energy.

Expanding retail, manufacturing footprint

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 percent 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 end of FY26.

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