- Kinetic Green aims to launch a family electric scooter within next 18 months.
Electric vehicle manufacturer Kinetic Green is working on an electric scooter meant for family. The new electric scooter is expected to hit the market in the next 18 months. However, the company’s Founder and CEO Sulajja Firodia Motwani has said that Kinetic Green has no intention to enter the fast-expanding electric motorcycle segment in Indian market, at least as of now.
PTI has reported that Kinetic Green is targeting a topline of ₹10,000 crore by 2030 and 60 per cent of this revenue is projected to come from the company’s two-wheeler business. The upcoming family electric scooter will come as a key part of the brand’s Vision 3.0, which focuses on the next phase of growth by capturing scale. “We are working on a family e-scooter, which will be launched in about 18 months from now. The e-scooter would be in the urban format,” said Motwani. She also stated that the upcoming family electric scooter will be positioned alongside the company’s e-luna.
Speaking on the possibility of bringing electric motorcycle into the market, Motwani reportedly said that the company is not looking at motorcycles. “We are not looking at motorcycles as somehow people don’t like motorcycles Kinetic. They think Kinetic is more about scooters and the Luna brand,” she said.
Kinetic Green early last month secured $25 million investment from private equity firm Greater Pacific Capital (GPC) as part of a larger $40 million Series A round. The funds will be used to accelerate the growth of the company’s electric two- and three-wheeler business.
The investment will be used to scale production at Kinetic Green’s manufacturing facility in Supa, Maharashtra, and to enhance marketing, distribution, and R&D efforts, among others. Moreover, the company plans to expand globally, particularly through the launch of its premium golf cart range, developed in collaboration with the Lamborghini family of Italy.
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First Published Date: 05 Sep 2024, 08:13 AM IST