India’s Omega Seiki to create electric vehicles in Bangladesh
Indian automotive and rail parts maker Omega Seiki yesterday declared plans to get 100 crore rupees to set up a plant close to Dhaka to manufacture electric vehicles.
The initiative will be run by OSM-Bangladesh, a subsidiary of Anglian Omega Group, reports The Economic Times.
Omega Seiki currently has two manufacturing plants in India, found at IMT Faridabad and IMT Manesar, Haryana.
"We trust our vehicles will cater to an extraordinary response in the neighbouring country. Bangladesh at the moment does not have an EV policy but it may change fast," said Omega Seiki Mobility Chairman Uday Narang.
The vehicles produced in Bangladesh will be sold under the OSM brand through local partners and franchises.
""With electrification happening quickly in automotive markets globally, we see it is period for the Bangladesh market to improve as well," said Omega Seiki Taking care of Director Deb Mukherji.
"The transition in two and three wheelers will be quickly as they donate to the pollution and traffic chaos," he said.
The vehicles will be powered by Li-ion batteries and with powertrains built-in Bangladesh through technology transfers from India, he added.
"In due study course, we are considering full localisation found in Bangladesh. We would also be seeking to export from Bangladesh to global spots e.g. ASEAN, Africa," he said.
Bangladesh has a zero-tax policy for exports to 39 countries.
"This includes India as well and we are considering selling in the northeast from there," Mukherji said.
