Omega Seiki, an electric vehicle manufacturer, plans to invest Rs 100 crore to set up a manufacturing plant near Dhaka, Bangladesh.
The set-up would be known as OSM-Bangladesh, which is a part of the Anglian Omega Group. At present, the company has two manufacturing plants in India, located at IMT Faridabad and IMT Manesar, Haryana.
The vehicles manufactured in Bangladesh will be sold under the OSM brand through local partners and franchises.
The company’s vehicles will be powered by Li-ion batteries and with power trains which wouldbe built in Bangladesh, with technology transfer from India.
In due course, the company is also looking at full localisation in Bangladesh. It will also look for exports from Bangladesh to global locations such as ASEAN, Africa, etc.