Omega Seiki Mobility Ventures into Green Hydrogen-Powered Vehicle Production

Omega Seiki Mobility (OSM), a domestic electric mobility firm, has announced its plans to manufacture green hydrogen-powered small commercial vehicles, including three-wheelers, in India. To achieve this, OSM has partnered with a French company, forming a joint entity called Hydrogen Intelligence SA.

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Joint Entity and Fundraising Plans

Hydrogen Intelligence SA will be headquartered in France, with a subsidiary in India. OSM Founder Uday Narang revealed that the entity aims to raise USD 25 million from the US and European markets to expand its business operations.

Hydrogen-Powered Three-Wheeler Showcase

Hydrogen Intelligence SA will be showcasing a hydrogen-powered three-wheeler at the ninth edition of the three-day hydrogen show, Hyvolution, which commenced in Paris on Tuesday. This showcases the company's commitment to green hydrogen technology and its potential applications in the small commercial vehicle segment.

Joint Venture Details

The joint venture will be 50 percent owned by OSM, with the remaining 50 percent held by the French partner. OSM will provide the hardware and product, while Hydrogen Intelligence will contribute the underlying technology. OSM plans to invest Rs 20 crore in the venture and is seeking additional funding of USD 25 million from European and US markets to support business expansion.

Manufacturing Facility and Production Plans

The France-based company will establish its manufacturing facility in Tamil Nadu, India. Initial production targets are set at 5,000 vehicles per month, with plans to scale up to 10,000 vehicles per month by 2026. The dedicated facility is expected to be commissioned by March 2025, marking the commencement of commercial vehicle production.

Omega Seiki Mobility's partnership with a French company represents a significant step forward in the development of green hydrogen-powered vehicles in India. The joint venture's focus on small commercial vehicles, including three-wheelers and 1-tonne capacity trucks, aligns with the country's efforts to promote sustainable transportation solutions. With ambitious production targets and plans for a dedicated manufacturing facility, OSM is poised to make a substantial impact on the Indian automotive industry and contribute to the nation's transition towards a greener future.