Mumbai: Electric vehicle (EV) maker Omega Secy Mobility (OSM) will set up the world’s largest three wheeler electric vehicle manufacturing unit in Karnataka with an investment of $250 million (about Rs 1,900 crore). The plant will be built in three phases on an area of 250 acres and will produce one million electric three-wheelers annually, OSM said on Friday. It said the company is raising capital through equity and debt to set up the plant. Is.
The company said it is in talks with existing and new suppliers to set up subsidiary manufacturing units in the vicinity of the factory. “On the occasion of World Earth Day (April 22), Omega Seki Mobility announces that the world’s largest three wheeler electric vehicle manufacturing unit will be set up in Karnataka,” the company said in a statement. $250 million will be invested for this.
The company’s founder and chairman Uday Narang said that the organized market for electric three wheelers has registered a phenomenal growth of 200 per cent in the financial year 2021-22. With this, the share of electric vehicles in the total number of three wheelers has gone up to 46 per cent. (agency)