Tag: Group President

Omega Seiki Mobilityand Valeojoin hands to accelerate two and three wheelers electrification in India

New Delhi:Omega Seiki Mobility (OSM), part of Anglian Omega Group and Valeo, the world leader in automotive electrification technology, have signed a Memorandum of Understanding (MoU), through which Valeo will provide the electric powertrains for OSM Vehicle Range.

Valeo will provide its 48V electric powertrain system (reducer, integrated Motor and Inverter) along with the Powertrain Control Unit for Omega Seiki Mobility cargo three-wheelers “Rage+ and Rage+ Frost”. In addition, Valeo’s engineers will provide the technology integration support to help Omega Seiki Mobility to go to the market quickly. Valeo and Omega Seiki Mobility will further collaborate for the upcoming vehicle models to be manufactured by the company in India.

Valeo, pioneer and world leader in 48V affordable systems, launched, in 2020, fully integrated compact 48V electric powertrain system in India to aid affordable electrification for small mobility vehicles – two and three wheelers, that are extensively used for first and last mile connectivity in the country.

While signing MoU with Valeo Mr. Uday Narang, Chairman, Omega Seiki Mobility said “We are thrilled to partner with Valeo. Anglian Omega Group believes in providing solutions. When we began our journey in the Automotive domain our main goal was to reduce emissions and carbon footprint to provide a sustainable future, greener air and responsible mobility solutions for the generations to come. The alliance with Valeo, one of the world leaders in the automotive industry is a perfect match for us. This association will allow us to address the core issue of reducing carbon load in the atmosphere, along with providing a sustainable solution for our product line-up.”

“Omega Seiki Mobility is taking a holistic approach to not only provide innovative technology in the vehicles but also deliver high performance vehicles at reasonable running cost via State-of-the-art internal R&D and alliances. Omega Seiki Mobility and Valeo, one such partnership where we share the same ideologies of delivering the world with smart technologies and products for green mobility. We look forward to having a long and fruitful innings with Valeo” further added Mr. Narang

Commenting on the partnership, Mr. Jayakumar G, Group President, Valeo India, said, “As a technology company, Valeo develops innovative solutions to reduce CO2 emissions. Omega Seiki will benefit from our deep understanding of not only the electrification technologies, but also the unique needs of integrating electric powertrain in the small mobility format of vehicles. I am positive that Valeo’s advanced technologies, our strong engineering combined with manufacturing expertise in India will help us to strengthen our partnership and succeed together in this rapidly growing segment. I thank Omega Seiki leadership for having decided to pursue this journey along with Valeo for greener mobility solutions”.

As a world leader in automotive electrification technology, Valeo offers both low and high voltage solutions and its technologies power all types of vehicles from two – and three -wheel urban vehicles to premium sedans and SUVs. Through the Valeo Siemens eAutomotive joint venture, Valeo is the world number one in high-voltage i.e., greater than 60V systems for electric vehicles. In India, Valeo produces electric powertrain from its manufacturing facility in Pune, Maharashtra.

Omega Seiki Mobility, which has its EV manufacturing plant in Faridabad, launched its first electric three-wheeler in the country in early 2020 and the company aims to become a complete mobility solutions provider in the three-wheeler and two-wheeler market.

“Powertrain is the most important part of an EV. With a global technology leader like Valeo on board, we would be providing our customers with new generation powertrains which are efficient, use latest technologies in motors, electronics & IOT, at the same time are cost effective too. That is the essence of a disruptive technology. We are very excited to be working with Valeo to introduce new range of powertrains in Indian market” says Dr. Deb Mukherji MD of Omega Seiki Mobility.

BharatPe topples Google Pay to become #3 in UPI P2M

Mumbai: BharatPe, India’s largest merchant payments company announced that it has become the 3rd largest player in the Merchant UPI payment acceptance space. The company has recorded INR 3,334 crores (US$ 479 million) in transaction value for the month of November, displacing Google Pay from the No. 3 position. The company shared that it processed 6.15 crores transactions in November 2020.

BharatPe has been outgrowing the market and has doubled its market share in the UPI P2M merchant payment acceptance category since April 2020. In November 2020, BharatPe has reached all-time high 5% market share by transaction value and 7% market share by transaction volume. The volume of transactions processed by BharatPe standalone last month is greater than the combined UPI P2M transaction volume of JIO, Zomato, Swiggy, CRED, FlipKart, CashFree, IRCTC and MPL.

Talking about the milestone, Mr. Ashneer Grover, Co-Founder and CEO, BharatPe, said, “BharatPe is an Indian startup and it is a proud moment for us to displace a global behemoth like Google Pay from the No. 3 position. The offline retail market is, in order of magnitude, larger than the online/ecommerce market in a country like India and digitizing fast. BharatPe’s differentiated financial services proposition focused at the merchant outweighs all other services being targeted by other UPI / VAS players. Big congratulations to BharatPe team for having delivered growth in 26 / 28 months since inception and growing 4X through COVID!”

Added Mr. Suhail Sameer, Group President, BharatPe, “The BharatPe team is extremely excited and enthused with this achievement. We are gearing up for new challenges and are committed to empower merchants to scale their business. We have bigger targets ahead of us. We intend to grow our business five times in the next 2 years, to cross US$ 30 bn TPV. We are bullish on lending and aim to disburse loans of US$1 bn to small merchants and kiranas by 2023.”

BharatPe offers a range of fintech products to help small merchants grow their business.  These include industry’s first interoperable UPI QR with zero transaction fee, a range of credit and insurance products, the POS machine and digital gold. Also, it offers attractive collateral-free loans of upto Rs. 7 lakhs at competitive interest rates to merchants. BharatPe has a unique loan hybrid repayment model with a combination of daily QR/ POS collection and weekly payments made directly from the bank account to the merchants availing loans. The company announced its aggressive expansion plans across Tier-1, 2 and 3 cities in the country. The company is currently present in 50+ cities and plans to scale up its presence to 65 cities by Mar 2021.