Faridabad-based Electric Vehicle (EV) manufacturer, Omega Seiki Mobility (OSM), will set up an electric 3-wheeler manufacturing facility in Karnataka. This information was given by OSM on 22nd April 2022. This new facility will be built on 250 acres of land and will involve an investment of about $250 million (approximately Rs. 1,900 crore).
OSM’s new factory will be built in three phases and will have an annual production capacity of 1 million electric three-wheelers which will be supplied to both Indian as well as international markets. Production at this facility is planned to commence in the next fiscal year. OSM will raise the investment amount for this project through equity and debt.