Kinetic Green has introduced the E-Luna at Rs 69,990, is optimistic on the upside volumes of its EV business, and the growing revenues of its group companies, it sees the Group revenues double to Rs 2000 crore by the end of 2025.
A senior company official, said, “The revenues of Kinetic Green is 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.”
Kinetic has opted to go alone on its EV adventure after relying on a number of partners over the previous three decades, including Honda, Hyosung, and, most recently, AIMA from China. The Group hopes to revive its mojo with the popular “Luna” brand locally, selling one lakh electric vehicles each year, and exporting automobiles to Vietnam, Malaysia, Thailand, and even Africa.
Similar to India, these markets are in their early stages of development, and the corporation may consider establishing an assembly base in these regions as they grow. The business is in the process of a Rs 250 crore Series A financing round to support its ambitious EV goals, according to company executives, who did not provide any other details.
The business intends to aggressively target the Luna with its unique ‘Chal meri Luna’ marketing campaign to hit the perfect chord for the Rs 25-30,000 income bracket in tier 2 and tier 3 markets, resulting in a monthly cost of ownership of only Rs 2,300.
Sullaja Firodia Motwani, Founder and CEO of Kinetic Green, a subsidiary of Kinetic Group, said that Kinetic may consider introducing a step-through bike in the South East market by December 2024.
She argues that the success of Luna or Kinetic Honda reflects positively on the brand for prospective purchasers, and that the corporation has invested substantial resources in creating the Luna in its new incarnation.
Sulajja, said, “For example, in Luna, the chassis and the gearbox are made by Kinetic Engineering, motors are made by the Kinetic Electric Motor Company, the controller cluster converter is made by Kinetic communications, clearly indicated that the Group has emerged stronger after the restructuring now actually we’re larger and resurgent than before.”
She also said they will invest Rs 100 crore for Luna over the next one year. The company will also increase its dealerships to 500 by September from the current 300-350, and further it to 1,000 in next 2 years.
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