Omega Seiki Mobility (OSM) and Brandwin group have signed an MoU to set up manufacturing and distributing OSM’s range of electric trucks, including 1-tonne and 3-tonne models of M1KA in Bangladesh, as early as 2024. The production line is currently under construction.
Initially, the company will be selling CKD (Completely Knocked Down) kits of the M1KA in Bangladesh, and the companies will be investing $10 million. OSM anticipates an initial sales volume of 500 electric trucks per year.
OSM has already set up an electric vehicle manufacturing facility near Dhaka in Bangladesh. Uday Narang, Founder and Chairman, Omega Seiki Mobility, noted that the company amplifying its EV business in the Bangladesh market is the next logical step in its internationalisation strategy.
He said, “As early as 2024, we will be exporting vehicle kits from our plant in Faridabad to Bangladesh, marking a major advancement of our EV manufacturing 2.0 project. The alliance will allow us to expand our partnership to help businesses enhance their profitability who are trying to learn to switch to sustainable last-mile transportation in Bangladesh.”
Ali Haider Ratan, Managing Director & CEO, Brandwin Group of companies, added, “Bangladesh is one of the growing economies of this South Asian region. Its economy is growing at an average 6% per year. The country has now become the second largest economy among the SAARC, and exports reached $50 billion. Along with the growing GDP of Bangladesh, people’s buying power is increasing gradually. Similarly, people’s lifestyles are changing as well. So, the usage of Electric Vehicles will rise for sure.”
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