Omega Seiki Mobility, and Manappuram Finance Limited signs MoU

New Delhi, 11th November 2020- Omega Seiki Mobility, a member of Anglian Omega Group of companies and Manappuram Finance Limited, a non-banking financial institution?, registered with The Reserve Bank of India, signed a memorandum of understanding (MoU) today. The MoU will enable and extend the finance by way of loan for the purchase of Omega Seiki Mobility Rage and Rage+ including through inventory funding and hire purchase for vehicles. This agreement will cover business in all locations in India wherever dealers and Non-Banking Finance Companies (NBFC) are present for electric three-wheeler loans.

Taking into consideration that our government is also investing in the Electric Vehicle industry and laying out plans for Faster Adoption and Manufacturing of Electric Vehicles in India, Omega Seiki Mobility and Manappuram Finance partnership will help the dealers and NBFCs to manage their funds and drive better sales of electric cargo three-wheelers. This MoU will also allow dealers to invest and encourage upcoming dealers, to contribute by boosting electric wheeler sales in the country. Omega Seiki Mobility launched Rage & Rage+ during the Auto Expo 2020 event, which primarily caters to the Business to Business(B2B) segment. The introduction of the vehicles will usher a whole new concept in emission-free smart cargo transportation and for last-mile connectivity for the eCommerce fleet business. Commenting on this partnership with Manappuram Finance Limited, Mr. Uday Narang, Chairman, Omega Seiki Mobility says, ?We manifest felicitation and good spirits to this partnership because we think that dealers network is one of the most respected assets for every company. And in order to do that, we want to extend our hand to help them in all aspects of the business with us. We are delighted to have Manappuram Finance Limited as our partner and we are assured and optimistic that their experience and reputation at the national level will help our dealers to grow their business network, seamlessly. \"

This financing alliance with Manappuram Finance Limited and Omega Seiki Mobility is aiming to expand its product sales and business in Tier I and Tier-II cities. Also, Omega Seiki will be launching its first electric two-wheeler bike by Diwali this year and electric pickup trucks within the next three years. Also, Mr. Narang expatiates that the agreement

over reducing dependency on China for components should be treated as a positive opportunity to make India, a global component of supply source.

Company :-Kindlewood Communications

User :- Shruti Sharma

Email :-shruti@kindlewoodcommunications.in

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