Dr Uday Narang says Omega Seiki Mobility entered India’s electric-vehicle market in 2018 believing that a good vehicle at the right price would bring customers. It did not. His central lesson: for commercial buyers, an EV is not just a product to purchase but a tool for earning a living, so financing, uptime, servicing and the cost of operating it matter as much as its sticker price. Moneycontrol’s October 9, 2026 interview records Narang’s retrospective account, not an independent audit of the company’s performance.
Why a good EV at the right price was not enough
“We initially believed that if you built a good electric vehicle at the right price, the market would naturally follow. It doesn’t work that way,” Narang told Moneycontrol. He said OSM got several things wrong, describing the learning as part of the company’s entrepreneurial journey rather than pointing to one defining failure or turning point.
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For a commercial driver or fleet operator, the purchase decision is tied to daily earnings. A vehicle must be usable reliably, affordable to finance and practical to maintain. If it is unavailable for work, difficult to service or costly to keep running, a competitive purchase price alone cannot make the business case.
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Narang’s account broadens the adoption challenge from vehicle design to the system that supports the vehicle throughout its working life. He says OSM learned to treat financing, charging, servicing, distribution and customer confidence as parts of the proposition. Those needs connect: a buyer needs access to a vehicle, a way to keep it working, and enough confidence in the support around it to rely on it for income.
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- Financing: Buyers need a workable route to fund a commercial vehicle, not merely a compelling quoted price.
- Uptime and reliability: The vehicle has to remain available for the work that generates revenue.
- Maintenance and service: Support and after-sales costs affect the economics of ownership over time.
- Charging and distribution: The surrounding infrastructure and access to vehicles shape whether adoption is practical.
- Confidence: Customers must be able to trust the vehicle and the support ecosystem behind it.
This is why total cost of ownership matters alongside the upfront price. Narang frames the task as understanding how customers use the vehicle and whether its operating economics work for them—not assuming demand will follow from a product specification or price point.
The manufacturing lesson: consistency is part of the product
Narang says OSM’s focus shifted toward manufacturing discipline. That includes consistent production and quality control, but also dependable supply chains, procurement, localisation, inventory management, working capital, manufacturing efficiency and after-sales costs. These are connected operational demands: unreliable supply can disrupt production, while poor quality or costly service can undermine the ownership proposition customers were promised.
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“In EVs, technology changes quickly, but the ability to manufacture consistently, control quality and build a dependable supply chain is what ultimately creates a sustainable company,” he said. The point is not that technology is unimportant; rather, a viable EV business must repeatedly deliver vehicles and support them without losing control of costs and quality.
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“Growth and resilience are two different things,” Narang said. In his account, scaling a business means more than expanding sales or adding products: complexity and expansion costs can erode the economics a company has worked to establish. He described the next challenge as growing without letting those costs dilute the business.
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That helps explain his stated preference for disciplined product choices: “I would rather have a smaller number of profitable products than a large portfolio where we are constantly discounting to gain market share.” The interview presents this as an ongoing challenge, not proof that OSM has permanently solved profitability or expansion.
What the interview says about OSM’s financial results
Moneycontrol’s interview cites approximately Rs 333 crore in revenue and Rs 7.3 crore in profit after tax for OSM in FY26. These are figures reported in the interview and have not been independently verified here against company filings. The interview does not establish that any single operational change caused those results; Narang describes lessons and adjustments accumulated over several years.
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Why OSM is looking beyond three-wheelers
Narang says OSM is moving beyond three-wheelers into two-wheelers and light commercial vehicles. He describes evaluating customer needs, utilisation, total cost of ownership, manufacturing competitiveness and service readiness as the company considers that expansion. The interview does not name specific models, so it supports a description of the company’s stated direction, not claims about particular vehicles or their specifications.
The broader lesson in Narang’s account is that entering a new vehicle category requires more than identifying a product opportunity. The company must assess whether customers can use and finance the vehicle, whether the service proposition is ready, and whether manufacturing can support the product competitively without undermining its economics.
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