Kinetic Green Private Ltd., which manufacturers electric two- and three-wheelers, on Wednesday, announced its foray into the business-to-customers (B2C) segment with the unveiling of a three-wheeler for passenger transport application.
The product to be powered by lithium ion battery for better performance, is expected to be introduced in the last quarter of FY25.
The company also said it targeted to achieve a revenue of ₹10,000 crore by 2030 from ₹900 crore in FY25, through product introductions and market expansion.
“Having achieved success through e Luna and e rickshaws, our objective is to be the green mobility provider for masses and we will create disruption in the two-wheeler and three-wheeler segment,” Sulajja Firodia Motwani, founder & CEO, Kinetic Green, said in an interaction. “We want to make e mobility accessible and affordable. Its a big opportunity for us and we have plans to grow our revenue to ₹10,000 crore by 2030,” she added.
“By that time we will manufacture over 1 million EVs, which will include one lakh 3 wheelers and 10 lakh 2 wheelers, contributing ₹3,500 crore and ₹6,000 crore respectively to the revenue. The balance ₹500 crore will come from Golf Cart JV,” she added.
Recently, the company had raised $25 million in Series A round and set up a new manufacturing plant at Supa in Maharashtra to ramp up production. It is planning to raise another $15 million to invest in R&D and market expansion.
The company, which has 100 dealers, plans to scale it up to 250 by year-end and announced fast-charging of its commercial three-wheelers in 15 minutes through a tie-up.
Ms. Motwani said the company would export to markets in South Asia, Africa and Latin America in the coming years.
Published – September 04, 2024 08:30 pm IST
