Regulatory News:

Forsee Power (Paris:FORSE) (FR0014005SB3 – FORSE), an expert in smart battery systems for sustainable electromobility, announces that it has started to deliver Indian vehicle manufacturer Omega Seiki Mobility (OSM) its GO 10 battery systems – as part of the MOU signed a year ago – to equip 5,000 electric RAGE+ 3-wheelers.

Advancing light electric vehicles with GO 10 battery system

Forsee Power is a key European player on the Asian light mobility market. The Group has already equipped more than 100,000 vehicles, offering a wide range of portable and on-board battery systems.

Forsee Power’s GO 10 is a robust lithium-ion 48V battery system embedding 10 kWh energy and delivering a very high autonomy of 110km to Omega Seiki Mobility’s vehicles.

This battery system is particularly adapted to fleet sharing with intensive use. Its best-in-class battery cells and proprietary Battery Management System (BMS) enable an excellent lifetime of 3,000 cycles.

Decarbonating India’s transport with made-in-India solutions

The Indian government has set an ambitious plan to decarbonate the country and the FAME 2 program aims at supporting the purchase of electric vehicles including three, four wheelers and buses. Only advanced batteries and vehicles can be incentivized under the scheme.

When the program was announced, Forsee Power made plan to establish in Pune and the production in series of batteries started in May 2021. The Group is first addressing the light electric vehicle local market – two, three, four wheelers and will address the heavy vehicle market in a second phase.

Omega Seiki Mobility has been growing its product line up and manufacturing footprint rapidly in India. The company is the first OEM to have two, three and four-wheelers in its product portfolio. OSM has set up large scale manufacturing facilities in Delhi NCR and Pune now looking to expand in Chennai. The company is a leading last mile service provider with under its brand “UNOXpress”. Omega Seiki Mobility is currently running its fleet in 20 cities, doing more than 1 million kilometers (10 lac km) per month.

Omega Seiki Mobility believes in creating sustainable mobility solutions with an integrated approach of connecting Automobiles and the Society. The brand’s focus is to eventually create a clean ecosystem with eco-friendly, safe and congestion free mobility. OSM is one of India’s leading clean energy incubators and has become synonymous with India’s sustainability success. The electric vehicle manufacturing company aims to fast-track future mobility, with green energy at its core, by implementing data-driven, smart engineering.

“We are proud to partner with Omega Seiki to contribute to the decarbonation of India’s light mobility with our innovative and zero-emission solutions. India’s market is extremely dynamic. While we are ramping up our local production in Pune, we are endeavoring to developing local skills and producing with the lowest environmental impact possible to ensure a sustainable battery industry in India”, explains Durga Akhnoor, CEO of Forsee Power India.

Dr. Deb Mukherji, Managing Director, Omega Seiki Mobility said, “We are pleased to partner with Forsee Power, the partnership will help us in strengthening our growth and enable us to scale globally”.

“Forsee Power is a leading battery manufacturer providing smart battery system which will support us in enhancing the range of Omega Seiki Mobility (OSM) electric three Wheeler RAGE+. Omega Seiki Mobility and Forsee Power have done multiple test runs to ensure adequate Power and Performance to OSM customers and drivers. With Sustainability and Technology at heart, sharing the same philosophy and ideologies, Omega Seiki Mobility will be associating with Forsee Power for our entire range of electric vehicles in Two, Three and Four-Wheeler category”, added Dr. Mukherji.

About Forsee Power

Forsee Power is a French industrial group specializing in smart battery systems for sustainable electric transport (light vehicles, off-highway vehicles, buses, trains, and ships). A major player in Europe, Asia and North America, the Group designs, assembles, and supplies energy management systems based on cells that are among the most robust in the market and provides installation, commissioning, and maintenance on site and remotely. More than 1,200 buses and 100,000 LEV have been equipped with Forsee Power’s batteries. The Group also offers financing solutions (battery leasing) and second-life solutions for transport batteries. Forsee Power recorded revenue from sales of EUR 72.4 million in 2021 and has more than 600 employees. For more information: www.forseepower.com | @ForseePower

About Omega Seiki Private Limited

Omega Seiki Private Limited is a member of the Anglian Omega group of businesses, focusing on manufacturing steel parts for automotive & engineering industries in India & abroad. The group has expanded rapidly in the last 5 years with several projects in automotive, infrastructure and high technology design & development with heavy investment in these areas. The electric vehicles business is under group company-Omega Seiki Pvt. Ltd. The company has designed and developed its three-wheelers indigenously at its in-house R&D facility. The vehicles under RAGE+ brand are deployed by several major ecommerce and logistics companies in India.

Forsee Power Sophie Tricaud Director of Communication, Sustainability & Public Affairs investors@forseepower.com

NewCap Thomas Grojean Quentin Massé Investor Relations forseepower@newcap.eu +33 (0)1 44 71 94 94

NewCap Nicolas Merigeau Media Relations forseepower@newcap.eu +33 (0)1 44 71 94 98

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