Kinetic Green aims to enter the South East Asian market with the E-Luna by December 2024, with a target of doubling the group’s turnover to Rs 2,000 crore. The company plans to sell one lakh electric vehicles per annum domestically and plans to expand to markets like Vietnam, Malaysia, Thailand and Africa.
- Upcoming factory in Maharashtra to produce 1 lakh vehicles
- Plans of scaling up dealerships to 1,000 over next two years
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Kinetic E-Luna revealed ahead of launch
Autocar Professional, our sister publication, reports that the final funding announcement is likely to be expected in March 2024, coinciding with their upcoming production line at Supa in Maharashtra with a capacity to produce 1 lakh vehicles.
Kinetic Green is also considering the introduction of a step-through bike in the South East Market by December 2024 confirmed Sullaja Firodia Motwani, Founder and CEO of Kinetic Green. With Rs 100 crore investment over the year in E-Luna, the company plans on expanding its dealerships from its current 300-350 to 500 by September, followed by 1,000 dealerships within a two year period.
"The revenues of Kinetic Green are expected to more than triple to Rs 1,200 crore from strong Luna sales, and with another Rs 800 crore of other group subsidiaries, the Group is targeting a turnover of Rs 2000 crore by the end of 2025 from the Rs 1000 crore turnover," a senior company official said.
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Kinetic E-Luna launched at Rs 69,990