Kinetic Charges Ahead: Rs 50 Crore Bet on India's EV Boom

Kinetic Group has unveiled its entry into the electric vehicle (EV) battery manufacturing sector by establishing a state-of-the-art production facility in Ahmednagar, Maharashtra, with an investment of Rs 50 crore. The plant is set to produce 60,000 Range-X batteries annually, catering to the growing demand for two- and three-wheeler EVs.

The facility will manufacture both Lithium Iron Phosphate (LFP) and Nickel Manganese Cobalt (NMC) batteries, offering improved energy density and longer battery life. Kinetic Group also aims to supply batteries to Original Equipment Manufacturers (OEMs) beyond its internal requirements and is working on the development of prismatic cells tailored specifically for three-wheelers. With a focus on automation and smart technologies, the plant is designed to optimize efficiency and reliability.

The Range-X batteries, powered by advanced LFP technology, offer enhanced thermal stability and high performance even in extreme conditions, reducing the risk of thermal runaway. Additionally, Kinetic Group is investing in cutting-edge technology, localizing the battery management system (BMS), and aligning its efforts with the Production Linked Incentive (PLI) scheme under the PM E-Drive initiative to promote domestic manufacturing.

With India's EV market expected to grow at a compound annual growth rate (CAGR) of 28.52%, reaching USD 18.319 billion by 2029, Kinetic Group is positioning itself to capitalize on the increasing demand for electric mobility solutions.

News by Rahul Yelligetti.