- Kinetic Green aims to launch a family electric scooter within the next 18 months.
Electric vehicle manufacturer Kinetic Green is working on an electric scooter for families. This 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 of entering the fast-growing electric motorcycle segment in the Indian market, at least not yet.
Kinetic Green aims to earn USD 1.5 billion by 2020, PTI reported. It is estimated to reach ₹10,000 crore by 2030 and 60 per cent of this revenue is estimated to come from the company's two-wheeler business. The upcoming family electric scooter will be 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 will be in the urban format,” Motwani said. He also added that the upcoming family electric scooter will be positioned alongside the company's e-Luna.
Speaking on the possibility of bringing electric motorcycles to the market, Motwani reportedly said that the company is not considering motorcycles. He said, “We are not considering motorcycles because somehow people do not like Kinetic motorcycles. They think Kinetic is more about scooters and the Luna brand.”
Kinetic Green earlier last month raised a $25 million investment from private equity firm Greater Pacific Capital (GPC) as part of a $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 up production at Kinetic Green's manufacturing facility in Supa, Maharashtra and enhance marketing, distribution and R&D efforts. In addition, the company plans to expand globally, especially through the launch of its premium golf cart range developed in collaboration with the Lamborghini family of Italy.
Take a look at the upcoming bikes in India.
First Publication Date: 05 September 2024, 08:13 AM IST