The electric Luna will hit the markets in the first quarter of the new year. That is what the Kinetic Green founder, Sulajja Firodia Motwani confirmed to Financial Express Online, speaking on the sidelines of the launch of its latest electric two-wheeler Zulu.
The Founder and CEO of Kinetic Green, Motwani reiterated “that it is coming in the first quarter. It already has all the necessary government approvals – be it FAME approval, state approvals, we are piloting in other places. We have got very good response and are very excited about it. We are trying to bring back the fun of owning Luna.”
But that is not all. Kinetic has planned out a product launch offensive over the next 5 years. According to Motwani, “We expect the next five years to be quite disruptive in terms of growth,” given the strong growth trajectory in the segments in which Kinetic Green has its presence, i.e. electric two- and three-wheelers, the fastest growing segments in electric vehicle space. From 6% penetration, it’s expected to go to 30-40% penetration and is likely to clock an overall 70-75% CAGR rate of growth.
The Kinetic Green founder revealed that in a bid to capitalise on the opportunity therein, they are “working on a high performance scooter which will come in a slightly larger wheel-base, a high performance vehicle more suited for big city riding with speed between 80-90 kilometres/hour. So that’s the current focus and we’re working also on our L5 passenger carrier.”
The vision that Kinetic Green has set for itself comprises selling “1 million electric vehicles in FY30 which would yield approximately Rs 10,000 crores worth topline and would mean about 90-100% CAGR per year, which we have been doing actually. Incremental growth will be rapid and this will come about 60% from two-wheelers about 30-35% from three-wheelers and about 10% from the golf carts.” She was emphatic and reiterated that while they are “focussing on e-Luna and scooters, we’re not looking at motorcycles.”