OSM had earlier signed a Joint Venture with Jae Sung: Korean Technology Player, for manufacturing of localized EV powertrains fuelled by Jae Sung’s expertise and technology prowess. A total of 6 variants of the powertrain company have been developed from 7.5 KW to 34 KW for the entire range of OSM’s electric Vehicles making Omega Seiki Mobility country’s first completely integrated electric OEM, manufacturing with its own Battery packs, Power trains, metal assemblies, Vehicles and providing mobility solutions.
“…technologies give us the control over the critical parts of the supply chain thus helping us become a large scale player in the industry. As cell and battery technologies are evolving rapidly, any serious OEM will need to continuously invest in them. Alliance with iM3NY ensures our access to a world class technology in batteries," Uday Narang, Founder and Chairman, Omega Seiki Mobility said.
Post the COVID-19 pandemic, the world economy faced a meltdown and its aftermath has established major challenges for the global EV supply chain. With slower shipments, global political unrest, price hikes across raw material sources, inflated demand, and strained relations with the Chinese economy, is making the task challenging for EV players.
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. With the requirement of enhanced battery pack manufacturing capacity, India also requires quality-oriented focus and delivery. As of now, the focus of players in the segment has been local manufacturing using local materials and technology.
On its part, Omega Seiki Mobility proposes to set up two New Green Field Manufacturing facilities to manufacture EV components with an investment of ₹800 crore. The company already has four state-manufacturing factories for its electric vehicles in Delhi NCR and Pune.
iM3NY is a leading player in Li-ion batteries in the USA. Founded by a group of companies including C4V, Magnis Energy Technology, and others, and led by ex-Tesla employee Chaitanya Sharma, iM3NY operates a Gigafactory in upstate New York. The company targets both the ESS and EV markets.
iM3NY Li ion cells utilize a differentiated technology known as Bio mineralized Lithium Mixed Metal Phosphate (BM-LMP). This chemistry touts a number of advantages over typical LFP chemistries, from increased energy density to improved cycle life. This will translate to better-performing packs for EV applications that is also required for the Indian market.
