Omega Seiki Mobility Signs MoU With PNB For EV Financing

Commercial electric vehicle manufacturer, Omega Seiki Mobility (OSM) has signed a MoU (Memorandum of Understanding) with Punjab National Bank (PNB). With this tie-up, Omega Seiki Mobility aims to help dealer partners streamline vehicle inventory funding and offer comprehensive retail financing solutions to their customers.

Omega Seiki Mobility has financed 8000 electric vehicles, amounting to a disbursement of Rs. 350 crores, to date. Looking ahead, the company has ambitious plans to finance an additional 7500 electric vehicles, with a total value of Rs. 300 crores, over the next three years.

Omega Seiki Mobility and Punjab National Bank's partnership prioritises access to electric vehicles and localised charging infrastructure, empowering rural communities with cleaner and more efficient transportation options. This approach brings transformative impacts like reducing emissions, cutting operational costs, generating employment with better livelihood and extra earning opportunity for riders fostering socio-economic growth.

Uday Narang, Founder and Chairman of Omega Seiki Mobility, expressed his vision for this transformative partnership, "This partnership is not just about numbers; it's about fostering a profound shift in how we perceive and access sustainable transportation. As we tap into the extensive network of Punjab National Bank's branches across the nation, we're expanding the horizons of electric vehicle ownership. This partnership doesn't merely enable transactions; it's about empowering individuals, families, and communities.”

Punjab National Bank has over 10,000 branches Pan India and the Bank will make its range of financial products available to Omega Seiki Mobility Customers Pan India 

Commenting on the Partnership, Amitabh Rai, DGM- MSME at Punjab National Bank, said, “PNB customers can now access exclusive and affordable financing options for electric 3-wheelers (Both passenger & cargo loaders) from Omega Seiki Mobility.”

OSM has sold over 8000 vehicles through its 175+ dealer touchpoints amounting to over Rs. 350 crores worth of retail financing and plans to finance Rs. 300 crores worth of vehicles through its retail financier network

Omega Seiki Mobility has established strategic partnerships with esteemed financial institutions such as IDFC and Indian Bank, alongside NDFC collaborators including Ecofy, Rise Wise Capital, AMU Leasing, Paisa Lo Digital, Shri Ram Finance, Wheels EMI, Three Wheels United, Vidyu Tech, among others, catering to both Retail and Captive Customers of OSM. These affiliations enable customers to access seamless funding at competitively advantageous interest rates.