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Syed Usman Hasan
16 Apr 2024

Omega Seiki Mobility & Exponent Energy Launches Fast-Charging E3W

By Syed Usman Hasan News Date 16 Apr 2024

Omega Seiki Mobility & Exponent Energy Launches Fast-Charging E3W

The EV company plans to add 350 touchpoints by the end of FY25 and increase its manufacturing capacity to 50,000 units by FY26.

Omega Seiki Mobility, an e-mobility company, has teamed up with Bengaluru-based rapid charging solutions supplier Exponent Energy to launch Stream City Qik, the world's quickest-charging passenger-carrying electric three-wheeler. It is priced at Rs 324,999 (ex-showroom). 

According to the manufacturer, the Stream City Qik can fully charge in 15 minutes, using Exponent Energy's rapid charging stations, which are presently located in six cities. With the deployment, the e3W will first be available in Bengaluru and Delhi. With an 8.8kWh lithium-ion battery pack from Exponent Energy, the electric three-wheeler has an ARAI-certified range of 126 kilometres. 
The warranty for the Stream City Qik electric three-wheeler is 200,000 kilometres or five years. The goal is to help drivers to increase their monthly revenue by as much as 30% by drastically decreasing the amount of time their vehicles are idle while charging.

Official Statement By Founder & Chairman– Omega Seiki Mobility 

According to Uday Narang, Founder and Chairman of Omega Seiki Mobility, “With its 15-minute rapid charging capability powered by Exponent, drivers now have the power to revolutionise their earnings potential. By minimising downtime and maximising efficiency on the road, the Qik ensures that every journey translates into tangible financial gains for our drivers.”

“Our commitment to innovation extends beyond technological advancements; it's about elevating livelihoods, fostering economic independence, and driving positive change in communities,” he further added. 

Official Statement By Co-Founder & CEO Of Exponent Energy

“Exponent is all about unlocking freedom & flexibility so that everyone can go electric seamlessly. On one hand, our 15-minute rapid charging maximises freedom and earnings; on the other hand, a longer battery warranty enables better financing terms and reduces monthly EMIs. This dual benefit of maximum revenue and lower cost unlocks the highest possible profit a user can extract from their Exponent-powered EV compared to any other EV or ICE vehicle,” said Arun Vinayak, Co-Founder & CEO of Exponent Energy.

Growing the Manufacturing and Retail Footprint

By the end of FY25, Omega Seiki Mobility aims to have grown from its current 200 stores to 350 outlets as part of its expansion goals. Cities in Bihar, Madhya Pradesh, Kerala, Karnataka, West Bengal, and Uttar Pradesh are among those that the firm is aiming for. Additionally, it wants to grow internationally in regions including the Middle East, Africa, Latin America, and ASEAN. In September 2024, the business also intends to introduce a new 1-ton truck in India.

Omega Seiki Mobility is also exploring multiple strategic partnership opportunities to fund its future growth ambitions. “We are looking at multiple opportunities and will keep investing on our own until we find a long-term strategic partner. Further, we are looking to liquidate around 26 percent of equity only with a strategic partner. 

“We are currently in discussions with multiple partners and want to ensure that we consider the right one,” revealed Narang.

Additionally, by the end of CY24, the firm plans to increase the size of its manufacturing footprint by commissioning a new factory in Tamil Nadu. By the end of FY26, the new facility will increase the company's current capacity across its two operations in Chakan, Pune, and Delhi-NCR to 50,000 units.

For more logistics news, stay tuned with us at Truck Junction. 

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