Kinetic Engineering Limited (KEL) announced that it has granted a brand license to its subsidiary company, Kinetic Watts and Volts Ltd. (KWV), to enter the electric vehicle (EV) sector. Incorporated on September 27, 2022, Kinetic Watts and Volts Ltd. was established with the mandate to explore alternative opportunities in the electric vehicle space. KWV is now finalising its EV product lineup and is gearing up to unveil its rollout strategy, partnerships, and go-to-market plans, marking a pivotal moment in its journey towards commercial operations. This momentum underscores KWV Team’s commitment to bringing innovative and sustainable electric mobility solutions to Indian consumers.
Brand licensing agreement
KEL, along other the promoters, has currently invested Rs 42.83 crores in KWV. KEL will be releasing an additional Rs 29 crores soon, bringing the total investment by KEL and other promoters to Rs 71.83 crores. This investment will result in KEL holding an 80% ownership stake in KWV, reinforcing its commitment to building a robust EV business under the group umbrella.
Kinetic Engineering Limited is a key supplier of EV components including gearboxes, axles, and chassis, playing a crucial role in India’s evolving EV supply chain. Additionally, the Kinetic Group has recently ventured into battery manufacturing under a separate group company operating under the brand “Range X.”
Under this agreement, KWV will have the non-exclusive right to use the Kinetic brand name and trademarks for its EV business, for an initial period of three years.
After the agreement, Ajinkya Firodia, Vice Chairman & Managing Director, Kinetic Engineering Ltd said, “The Kinetic brand has been a symbol of innovation, trust, and progress for over five decades. As we step into the electric era, we are excited to see Kinetic Watts and Volts carry this proud legacy forward. This license is not just a business arrangement – it’s the handover of a rich heritage into capable hands, committed to shaping the future of mobility. We believe that by combining our iconic brand with cutting-edge electric technology, Kinetic Watts and Volts will create products that resonate deeply with Indian consumers and set new benchmarks in the EV space.”
