"Kinetic Green Announces ₹100 Crore Investment in Building E-Luna Brand"

Kinetic Green, an electric vehicle (EV) manufacturer, has announced plans to invest ₹100 crore over the next 12-15 months towards the expansion and brand building of E-Luna. Anticipating substantial growth, the company aims to generate approximately ₹1,200 crore in revenue in the upcoming financial year.

In a bid to bolster its market presence, Kinetic Green plans to escalate its dealer network to around 1,000 outlets within the next two years, a significant leap from the current 350 dealerships. This year alone, the company targets an expansion to 500 dealerships.

Sulajja Firodia Motwani, Founder and CEO of Kinetic Green, expressed enthusiasm following the pilot launch of E-Luna in Maharashtra, citing an impressive response with 3,000 units sold in the last two months, out of which 1,500 were sold to customers directly and the remainder to business-to-business (B2B) clients. Motwani emphasized the company's ambition to penetrate not only urban and tier-I cities but also every tehsil across the country.

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

E-Luna, launched at an introductory price of ₹69,990 (ex-showroom), boasts a range of 110 km per charge. Offering various battery options ranging from 1.7 kWh to 3 kWh, with a riding range of up to 150 km per charge, E-Luna caters to diverse customer preferences. Motwani emphasized the vehicle's safety features, efficient thermal management, and options for fast charging and swappable batteries, particularly suited for B2B applications.

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

HBL