EV maker OSM to set up retrofit plant in Punjab at $25-million

EV maker Omega Seiki Mobility is setting up a retrofit facility to convert internal combustion engine (ICE)-powered vehicles into electric vehicles near Chandigarh at an investment of USD 25-million, which is expected to be operational by the December quarter, company’s founder and chairman Uday Narang has said.

Narang also said that as the financing remains a challenge for the EV customers, retrofit brings these vehicles within the reach of those customers who want to move to such vehicles from ICE, particularly at the time when petrol and diesel prices are at a much-elevated level.