Omega Seiki signs MoU to set up Rs 100 cr electric vehicle unit in UP

04 Aug 2021 CW Team

A member of the Anglian Omega Group, Omega Seiki Mobility (OSM), has inked a Memorandum of Understanding (MoU) with Youth Rural Entrepreneur Foundation (YREF) to set up an electric vehicle (EV) manufacturing unit with an investment of Rs 100 crore in Ghazipur, Uttar Pradesh.

To generate self-employment opportunities for rural youth of the country, the YREF works closely with the central and state governments. This foundation has been working with government and non-government organisations to create enough entrepreneurial possibilities for rural youth in their areas.

Founder of Omega Seiki Mobility, Uday Narang, told the media that the company is excited to partner with YREF. The Covid-19 pandemic has thrown at us a major challenge, but it has also brought us plenty of opportunities. OSM expects that transport sector electrification is the first step to solve the problems of air pollution, which has been bothering our cities.

OSM believes that the EVs will also perform a significant role in targeting one of the biggest problems of India; unemployment, he further added.

In India, there are around 6.5 lakh villages, of which more than one lakh are in Uttar Pradesh. This program will work as part of the Skill India campaign of the central government. For OSM, Ghazipur is a pilot project and it is proposing to produce EVs there and customize them based on the personal and business needs of customers.

Youth Rural Entrepreneur Foundation, CEO, Mr. Sunil Singh, said that OSM and YREF are committed to generating employment in rural India. This partnership will be a responsible investment in the electric space for producing electric carts for street vending on electrical two and three-wheelers.

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Also read: Tata Steel to deploy electric vehicles for steel transportation

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