Kinetic Green aims at capturing 12-15% market share in e2w, e3ws

Kinetic Green Energy and Power Solutions Ltd. aims to be among the top 5 companies in electric two and three-wheeler segment by FY29, with a market share of 12-15%.

Kinetic Green Energy and Power Solutions Ltd., (Kinetic Green), is aiming at achieving a rank among the top 5 companies in the electric two and three-wheeler segment by FY29, said a top official.

“We entered the EV space during 2016-17 and are currently ranked among top 10 firms. We had drawn up aggressive growth plans. But, it was derailed by the pandemic,” said Founder & CEO Sulajja Firodia Motwani during an interaction.

As per the five-year plan (FY25-FY29), the EV manufacturer intends to be among the top five companies with a market share of 12-15% in both two and three wheelers segment. It will set aside ₹500 crore over the next three-four years on manufacturing and product development among others.

The company also intends to raise $30-40 million between December and January 2024 and is in talks with some private investors.

While mentioning that the plans to set up a new plant in Andhra Pradesh has been put on hold, she said that the company’s second EV plant in Supa near Ahmednagar is ready to go on stream. In the first phase, it will produce one million EVs and in the second phase 0.5 million units.

Having made a name through Luna and Kinetic Honda in two-wheeler space, Kinetic Green current portfolio consists of couple of e-autos (passenger and cargo space) and e-scooters.

Asserting that they are not a cash-burn company, she said they have a pipeline of launches lined up in 2024 such e-Luna (which is undergoing trials), e-auto (L5 passenger version), golf cart and hi-performance scooter in 2025.