Omega Seiki Mobility Partners PNB To Expand Financing Options

Omega Seiki Mobility (OSM) has signed a Memorandum of Understanding (MoU) with Punjab National Bank (PNB) to help dealer partners streamline vehicle inventory funding and offer comprehensive retail financing solutions to their customers.

As a testament to their commitment to promote sustainable mobility, Omega Seiki Mobility has successfully financed 8,000 electric vehicles, amounting to a disbursement of INR 350 crores, to date. This significant investment underscores their dedication to driving the adoption of electric vehicles in India. Looking ahead, the company has ambitious plans to finance an additional 7500 electric vehicles, with a total value of INR 300 crores, over the next three years.

The 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, “Today marks a significant milestone as Omega Seiki Mobility joins hands with Punjab National Bank to reshape the landscape of electric mobility financing. This partnership is not just about numbers; it’s about fostering a profound shift in how we perceive and access sustainable transportation.”

He said our mission is clear: we aim to provide more than just financing options; we’re building a bridge to a greener, more inclusive future for every Indian. 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. It’s about giving wings to aspirations and turning them into reality.”

“Electric mobility isn't limited to urban centres; it's a transformative force that can uplift the lives of millions in rural India. By prioritizing access to electric three-wheelers, we are empowering rural India with cleaner, more efficient transportation options and generous earning potentials. We envision a future where electric vehicles become catalysts for positive social change, driving socio-economic development and reducing our carbon footprint," he added.  

Commenting on the partnership Amitabh Rai, DGM- MSME, Punjab National Bank said, “Punjab National Bank has teamed up with Omega Seiki Private Limited (OSPL) to offer seamless financing options for electric 3-wheelers to provide eco-friendly mobility solutions. In this regard, a MoU was signed, aimed at providing seamless financing solutions for electric 3-wheelers and cargo loaders. PNB customers can now access exclusive and affordable financing options for electric 3-wheelers from Omega Seiki Mobility.”

This strategic alliance between Omega Seiki Mobility and Punjab National Bank not only promises hassle-free financing options for customers but also contributes significantly to India’s sustainable development goals. By pooling their expertise and resources, the partnership is set to bolster the electric vehicle market and create a greener, cleaner, and more sustainable future for transportation in India.

Rakesh Ranjan, Head of Retail Finance, Omega Seiki Mobility, highlighted the significance of the partnership, “Embracing the synergy between sustainable innovation and financial empowerment, the MoU between Omega Seiki Mobility and Punjab National Bank ushers in a transformative era of eco-friendly mobility, where intellect and conscience converge to drive the wheels of progress towards a greener and more inclusive tomorrow.”