Omega Seiki Mobility (OSM) partners with cKers Finance to provide retail finance for electric three wheelers

NEW DELHI, March 28, 2023 /PRNewswire/ --  As an effort towards encouraging Electric Vehicle (EV) adoption in the country, Omega Seiki Mobility, an Anglian Omega Group Company and cKers Finance Private Limited ("cKers"), a non-banking financial company (NBFC) focused on financing climate friendly businesses including electric vehicles in India,  has signed  a Memorandum of Understanding. Through this tie-up, Omega Seiki Mobility customers for e3W loader category, can get their vehicles financed by cKers Finance.

The EV market is projected to grow multi-fold over the next 5 years. Owing to the low total cost of ownership and robust quality vehicles, the electric 3-wheeler (e3W) loader segment is growing rapidly and there is a pressing need to meet the financing needs of the driver owner and the small fleet owner segments. OSM's wide range of three wheelers offerings allows customers to select vehicle suiting their requirements.

Talking about the cKers facility, Mr. Uday Narang, Founder & Chairman, Omega Seiki Mobility said,

"We have an existing order book of over 25,000 electric cargo vehicles. Financing is crucial to ensuring that Omega Seiki Mobility customers are able to choose the right EV Vehicle for smooth running of their operations, and at Omega Seiki Mobility, we are pleased to partner with cKers for the financing of OSM's wide range of electric three wheelers. This reflects our continued participation in India's journey towards a sustainable future."  

Speaking about the partnership, Mr. Baljinder S  Khurana, Head – Retail Finance Business at cKers, said, "India's transition to EVs requires close collaboration among EV OEMs, financiers, battery OEMs, to meet the needs of the driver owner and  small fleet owner segments. Beyond the financing, these customers also need help in making the right vehicle buying decision, with supporting charging infrastructure, maintenance and fleet growth. At cKers, we are putting in place these building blocks, to meet the needs of this target customer."

This MOU signifies a big step towards both company's approach towards building a better sustainable environment by creating sustainable mobility solutions with an integrated approach of connecting Automobiles and the Society. The focus is to eventually create a clean ecosystem with eco-friendly, safe and congestion free mobility.

About Omega Seiki Private Limited

Omega Seiki Private Limited is a member of the Anglian Omega group of businesses, focusing on manufacturing steel parts for automotive & engineering industries in India & abroad. The group has expanded rapidly in the last 5 years with several projects in automotive, infrastructure and high technology design & development with heavy investment in these areas.  The electric vehicles business is under group company-Omega Seiki Pvt. Ltd. The company has designed and developed its two and three wheelers indigenously at its in-house R&D facility. The electric three wheelers under RAGE+ brand is deployed by several major ecommerce and logistics companies in India.

About cKers Finance

cKers Finance (pronounced 'seekers') (www.cKersFinance.in) is a specialized Sustainable Energy (SE) finance company that operates in the rapidly growing segments around clean energy, e-Mobility and energy efficiency. Established in 2017, cKers specializes in making project finance viable at a small scale for decentralized renewable energy; and develops innovative asset-backed financing approaches. It is also supporting standards for sustainable energy bonds and building data around risk metrics for new segments. Within the e-Mobility segment, it also provides vehicle finance for the retail buyers of e3W-loaders.