Omega Seiki Mobility (OSM) has announced a joint venture with iM3NY to bring battery cell technology to the Indian market.
A press release from OSM noted that iM3NY Li-ion cells utilise a cutting-edge and differentiated technology known as Bio mineralised Lithium Mixed Metal Phosphate (BM-LMP).
Uday Narang, Founder and Chairman, Omega Seiki Mobility, noted that as cell and battery technologies evolve rapidly, any serious OEM will need to invest in them continuously. 'Alliance with iM3NY ensures our access to a world-class technology in batteries,' he added.
Chaitanya Sharma, CEO, iM3NY, said, 'The partnership is strategically important for the electrification of the automotive industry.'
OSM believes that India’s battery market accounts for a total demand of 3GWh and is slated to increase to 20 GWh in 2026 and 70 GWh in 2030.
In addition to the JV, OSM has also announced its plans to invest INR 800 crore to set up two new green field manufacturing facilities to manufacture components. Notably, the company already has four state-of-the-art manufacturing factories for its electric vehicles in Delhi NCR and Pune.
Earlier, OSM had signed a Joint Venture with Jae Sung, a Korean Technology Player, to manufacture localised EV powertrains fuelled by Jae Sung’s expertise and technology prowess.
The company has developed six powertrain variants ranging from 7.5 KW to 34 KW. Under the partnership, OSM aims to produce six HIGo powertrains for power capacities from 7 KW to 34 KW using its own Korean Technology Capacities.
Lee Hyunjin, President, Jae Sung Korea, said that the HIGo powertrains have been designed for India, keeping Indian driving conditions in mind. “These are integrated design, 20% light weight and have more power than existing powertrains. This makes the vehicle lighter and gives more mileage,” he added.
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