It has been a while since Kinetic returned to the Indian two-wheeler space as a fully-electric OEM Kinetic Green. However, the company couldn’t garner that level attention until recently when the iconic Luna was reborn in a whole new avatar. Called e-Luna, the battery-powered moped has been priced at an introductory Rs 69,990 (ex-showroom).
In a recent interaction with Financial Express Online, Sulajja Firodia Motwani, CEO and Co-founder, Kinetic Green, shared some key insights on what went into making of the e-Luna and future commitments of the company.
Kinetic entering electric two-wheeler space
While Kinetic Green considers itself as an early entrant and trendsetter in the Indian electric mobility space, it was only until 2020 when Kinetic could officially enter the two-wheeler market. Motwani said, “We entered the two-wheeler space later because in 2019, we had a noncompete clause with Mahindra because we had a JV with them for two years.”
She added, “We began our journey with three wheelers, but when we could, we started our two-wheeler journey. I think the journey is very well timed, because the market is moving definitely towards a higher interest in electric two-wheelers.” Stating an unnamed survey, Motwani said that 25% of the people who are planning to buy a two-wheeler, are looking for an electric solution. However, current market penetration stands at 5-6% only.
Focus on e-scooters, e-Luna
During the interaction, Motwani confirmed that they aren’t looking to enter the electric motorcycle space. “I think the opportunity is much more imminent here with the low-hanging fruit on scooters and the E-Luna. For the next foreseeable future, and that’s where our focus will be”, said Motwani.
Speaking of e-Luna, Kinetic Green is aiming for a yearly sales figure of around 1 lakh units. Prior to its official launch, a pilot project for the all-electric Luna was launched where 30,000 units of the moped were sold in select cities of Maharashtra. Out of these, 15,000 units were sold to B2B and last-mile service owners. These units were sold through e-commerce websites.
More Kinetic dealerships in future
Motwani asserted that even though bookings for the e-Luna can be made on e-commerce websites like Flipkart and Amazon, buyers will receive their deliveries through dealerships. Interested buyers can book the e-Luna on e-commerce sites at a token amount of Rs 500.
Shedding more light on Kinetic Green’s business module, Motwani said, “ Kinetic has been experienced in the automotive business. So, we know that customers want the physical touch and feel, they want a nearby service centre, all of that, and the dealers actually play a big role, because they give customers that confidence. So, we have gone the other way, where we have built the physical network”.
Kinetic Green claims to have established at least 300 dealers for the two-wheeler segment across the country with more showrooms to come up in the near future. Motwani further added that “the digital is layered on the physical, not the physical on the digital”.
On being asked about the battery subscription model offered in the Zulu e-scooter launched in December 2023, Motwani confirmed that battery subscription will also make its way to e-Luna. However, no specific details regarding the same were shared with us. Motwani further added that monthly expenses on e-Luna including charging and EMI would add less than Rs 2,500 which is much less than any petrol-powered two-wheeler.
