Omega Seiki and Grip Join Hands To Lease 1K Electric 3-Wheelers

Leading end-to-end mobility solutions company, Omega Seiki Mobility and Grip, an alternative investment platform provider, has joined hands to provide lease and financing solutions to retail investors. Under this strategic partnership, it has been decided that Grip will be financing,1000 units of Omega Seiki Mobility’s Rage+ Rapid three-wheeled vehicle. The companies have also stated that the partnership will be extended to lease a minimum of 5,000 electric vehicles within 2023. 

Omega Seiki Mobility has also mentioned that with the new partnership, the brand aims at meeting the significantly growing demand for electric three-wheelers for last-mile delivery services. It has also been mentioned that Omega Seiki Mobility already has orders for over 40,000 commercial electric vehicles. 

The brand has also mentioned that due to increased demand for Electro-Mobility by the last mile delivery services, the electric three-wheelers market is substantially growing. Further, due to the low cost of ownership by leasing commercial vehicles, stakeholders are focusing more on the same. In simple words, due to the affordability factor, the global commercial vehicle rental and leasing market seem to be the new trend. This market is projected to grow multi-fold within the next 5 years. 

Commenting on the partnership, Mr. Uday Narang, Founder, and Chairman, Omega Seiki Mobility said, “We are pleased to partner with Grip which is a customer-centric, tech-enabled new-age investment platform. The collaboration will work upon a stronger foothold of the EV in the existing market and accelerate the electrification drive. The absence of affordable financing options has proven to be a critical impediment for low-income patrons to change to EVs. Keeping with the belief system to creating sustainable mobility, OSM scouts various ways to lease and supply electric three-wheelers, adding to the current EV thrust in the country.”

Mr. Vivek Gulati, Co-Founder, and COO, Grip, said, “Since inception, Grip has partnered with 80+ venture capital-backed, high growth companies to enable asset-backed financing through Lease Financing and Inventory Financing. The Mobility sector, with a focus on EVs, has seen the maximum investments on our platform. Electric three-wheelers are an emerging segment, where leasing out the vehicle appears to be a beneficial proposition for both, the company and the retail investors looking to diversify their portfolio beyond market volatility to get fixed returns. One of the fastest-growing and integrated EV players, Omega Seiki Mobility joining hands with us, will prove to be a significant step ahead in democratizing and organizing the EV lease financing sector in India.”

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