Tuesday, November 29, 2022
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Kinetic’s scooter will be seen on the roads again, but will now come in electric avatar

Kinetic Engineering Limited has formed a new company for the production of Electric Two Wheelers. The new company will be a subsidiary of Kinetic Engineering Ltd and will hold majority stake in the company with 51 per cent in it. The official name of the new company has not been disclosed yet.

The decision was taken in the board meeting while evaluating the development of the Indian EV market. Since the company is already manufacturing auto components like axles, gearboxes, frames for electric two-wheelers, it seemed like a viable decision. The company intends to utilize its manufacturing expertise to develop and market products for the Indian market to its best advantage.

Kinetic's scooter will be seen on the roads again, but will now come in electric avatar

Commenting on the occasion, Ajinkya Firodia, Managing Director, Kinetic Engineering Ltd. said, “In the last 1 year Electric Two-Wheeler sales have crossed 3.56 Lakh Units and Electric Three-Wheeler sales have crossed 2.30 Lakh Units. All on Electrification Talks are underway with leading manufacturers. We are delighted to announce the formation of a new subsidiary with the clear objective of being a part of the growth story of Electric Mobility.”

Kinetic's scooter will be seen on the roads again, but will now come in electric avatar

Let us tell you that earlier this year, Kinetic had partnered with Chinese company Aima Technology Group to re-enter the two-wheeler market in India. Kinetic plans to launch electric scooters in India in partnership with the Chinese company. Kinetic will make these electric scooters in India only.

In addition to providing technical support, Chinese company Aima will help localize Kinetic’s products in India. With this, the company will be able to control the cost of scooters in a better way as well as the delivery time of the scooters will also be reduced.

These electric scooters from Kinetic will be available at a price of Rs 50,000 to Rs 1,00,000. The company plans to introduce e-scooters in the commuter as well as premium and delivery segments. The company says that it will not rebrand the models imported from China and sell them in India, but all the models of the brand will be completely made in India.

Kinetic's scooter will be seen on the roads again, but will now come in electric avatar

Kinetic has also said that all its e-scooter models will be eligible under FAME-II subsidy. The company is aiming to manufacture 5 lakh electric scooters every year. Talking about Chinese subsidiary Aima, the company sells more than 1,000 electric models across the world, which include two, three and four-wheelers.

Kinetic's scooter will be seen on the roads again, but will now come in electric avatar

Note: Photos are indicative.

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