Anglian Omega Group's EV arm Omega Seiki Mobility on Friday announced its entry into the passenger electric three-wheeler segment, with the launch of Stream priced at Rs 3.40-lakh (ex-showroom New Delhi) post-government subsidy.
The company said it has invested around $12 to 15 million in the new product, which aims to cater to domestic and overseas markets demand.
The Faridabad-headquartered company was dealing in the electric cargo three-wheeler segment.
The stream will compete with Piaggio's Ape E-City and Mahindra Treo's passenger electric three-wheelers in the space.
The vehicle is powered by an advanced 8.5-kW capacity lithium-ion battery that can be charged through a 16 A socket using the offboard portable charger in four hours.
OSM's maiden passenger e-three-wheeler offers a range of 110 km on a single charge, as per the company.
Stating that Stream redefines sustainable and eco-friendly last-mile mobility in the country, the company claimed its electric passenger three-wheeler will provide an improved earning potential of 20-25 per cent, which ensures good savings and profits.
"Today marks a significant day for Omega Seiki Mobility as we venture into the passenger segment. As the innovators of green mobility space, Omega Seiki Mobility is poised to be at the forefront of the EV revolution while leading the endeavor through its range of clean mobility solutions.
"Stream is one such product, which is an innovative green solution in the last mile transportation segment with the best in class earning potential for the drivers and owners," said Uday Narang, founder and Chairman of Omega Seiki Mobility.
Narang said that the company is eying to sell around 35,000-40,000 units of Stream passenger e-three wheeler next year, with 60 per cent of the total volumes expected to come from the domestic sales and the remaining 40 per cent from the overseas market.
"We plan to export this vehicle to Africa and ASEAN as well as Latin America," he added.
The company said it has partnered with many banks and NBFCs to facilitate vehicle financing, which can also be availed through the group's in-house financing arm 'Anglian Finvest'.