Kinetic Green's ₹100 Crore Bet on E-Luna

Kinetic Green, a pioneering electric vehicle (EV) manufacturer, is embarking on an ambitious journey to invest ₹100 crore over the next 12-15 months towards expanding and solidifying the brand presence of E-Luna. With a keen eye on growth, the company anticipates generating approximately ₹1,200 crore in revenue in the upcoming financial year.

In a strategic move to enhance its market reach, Kinetic Green is set to ramp up its dealer network to approximately 1,000 outlets within the next two years, a substantial increase from the current 350 dealerships. This year alone, the company aims to expand to 500 dealerships.

Sulajja Firodia Motwani, the visionary Founder and CEO of Kinetic Green, expressed profound enthusiasm following the successful pilot launch of E-Luna in Maharashtra. The response has been overwhelmingly positive, with 3,000 units sold in the last two months, of which 1,500 were directly purchased by customers and the rest by business-to-business (B2B) clients. Motwani underscored the company's ambition to not only penetrate urban and tier-I cities but also reach every tehsil across the country.

With an expected revenue contribution of approximately ₹800 crore from the Luna segment alone in the upcoming financial year, Kinetic Green aims to sell around one lakh units of E-Luna. Motwani emphasized the widespread interest from customers nationwide, highlighting the company's dedication to nurturing customer relationships.

E-Luna, introduced at an enticing introductory price of ₹69,990 (ex-showroom), boasts a remarkable range of 110 km per charge. It offers various battery options ranging from 1.7 kWh to 3 kWh, providing a riding range of up to 150 km per charge, catering to diverse customer preferences. Motwani highlighted the vehicle's safety features, efficient thermal management, and options for fast charging and swappable batteries, particularly suitable for B2B applications.

Furthermore, Motwani emphasized the cost-effectiveness of E-Luna ownership compared to internal combustion engine (ICE) vehicles. With a projected total cost of ownership (TCO) below ₹2,500 per month, inclusive of reduced EMIs and charging costs, E-Luna presents a compelling alternative for customers, making personal mobility more accessible and affordable.

News by Rahul Yelligetti