On Friday, Omega Seiki Mobility, a manufacturer of electric vehicles, established a strategic alliance with Honda Power Pack Energy India (HEID) to integrate battery swap technology into more than 10,000 passenger and cargo vehicles over the course of the following two years. As part of this partnership, OSM (Omega Seiki Mobility) said in a statement that HEID, a subsidiary of the massive Japanese automaker Honda Motor, will supply OSM (Omega Seiki Mobility) swappable batteries for its EVs and establish a network of quick exchange stations in Tier-I cities throughout India.

Auto rickshaw drivers can replace depleted batteries with fully charged ones at carefully positioned battery stations thanks to Honda’s battery swap service, according to OSM. The technology also considerably lowers the initial cost of purchasing an EV, always worries about range restrictions, and cuts down on the amount of time drivers must spend recharging their batteries.

“The invention of swappable batteries is a paradigm change, providing unmatched environmental benefits and efficiency. According to Omega Seiki Mobility’s founder and chairman, Uday Narang, “it perfectly aligns with our vision of rapid, clean, and accessible electric transportation.”

“In the next two years, we intend to implement Honda’s swap technology in over 10,000 vehicles in both passenger and cargo segments,” he stated.

OSM also announced that its next generation of electric three-wheelers, including cargo and passenger models, will be outfitted with Honda’s cleverly swappable batteries, which make use of cutting-edge lithium-ion technology.

According to HEID, it plans to create a vast battery swap network, starting in Bengaluru and moving on to other Tier 1 cities.

Vice President of Technology and OEM development at HEID Tomohide Haraguchi stated that Honda’s swappable battery pack embodies the knowledge and technology that the company has amassed over many years in the global four-wheeler market with regard to lithium-ion batteries.

“We are happy to work with Omega Seiki Mobility. The growth of OSM’s cutting-edge electric vehicle lineup will undoubtedly be accelerated by this provision of safe and dependable lithium-ion battery packs,” he stated.

In the past, banks and private equity firms were negotiating with Omega Seiki Mobility (OSM) to provide funding for the company to grow its electric vehicle (EV) business and start producing drones for sale. The founder of Anglian Omega Group, Uday Narang, told ET that the company has started discussions with private equity companies to fund $100 million over the next two years for its recently founded drone manufacturing subsidiary, Sooryauday Aerial Vehicles Pvt Ltd. According to him, OSM was also in talks to fund $100 million through a mix of loan and equity to support the growth of its main EV business.