Saturday, May 18, 2024

Kinetic Green Aims to Sell 100,000 e-Luna Units for Rs 1,200 Each


Kinetic Green Aims to Sell 1 Lakh Units of E-Luna, Targets Rs 1,200 Crore Turnover

Kinetic Green is setting ambitious targets for the upcoming financial year, planning to sell over 1 lakh units of its newly launched electric Luna, aiming for a turnover of Rs 1,200 crore. Unveiled recently in the domestic market, the E-Luna is expected to generate approximately Rs 800 crore in revenue from the Luna segment alone.

From its current turnover standpoint of around Rs 350 crore, Kinetic Green envisions a significant leap in sales and revenue. “We are targeting to sell 1 lakh units of E-Luna next fiscal as we expect the company turnover to touch Rs 1,200 crore next year,” said Sulajja Firodia Motwani, Kinetic Green Founder and CEO.

With a favorable response from B2B customers and e-commerce players, the company is optimistic about selling half of its target, 50,000 units, to these sectors.

A substantial investment of Rs 100 crore is planned for brand building and marketing over the next 12 to 15 months. Moreover, Kinetic Green plans to expand the E-Luna platform, primarily focusing on the scooter vertical without venturing into motorcycles.

The company is hopeful for continued government support, like the extension of the FAME scheme, to boost electric two-wheeler adoption across the country. One of the main challenges in the electric vehicle market is affordability. The E-Luna, priced at an introductory ex-showroom price of Rs 69,990, aims to address this issue. With a 2 kWh lithium-ion battery, the E-Luna offers a range of 110 km on a single charge, making it an attractive option for potential buyers.

At the model unveiling, Union Minister Nitin Gadkari highlighted the significance of the electric revolution in the automotive industry, particularly its potential impact on Tier 2, Tier 3 cities, and rural India. “The E-Luna is not just about reducing the carbon footprint; it’s about providing e-mobility for the real Bharat, spread across the country’s length and breadth. This inclusivity is what will help Bharat grow, expand, and emerge as a leading economic superpower,” Gadkari affirmed.

With its aggressive targets and focus on inclusivity, Kinetic Green is poised to make significant strides in the electric two-wheeler market, paving the way for sustainable transportation solutions across India.

Jordan Clark
Jordan Clark
Jordan Clark brings a dynamic and investigative approach to business reporting. Holding a degree in Business Administration and a certification in Data Analysis, Jordan has an eye for detail and a knack for uncovering the stories behind the numbers. His career began in the bustling world of Silicon Valley startups, giving him firsthand experience in tech entrepreneurship and venture capital. Jordan's reports often focus on technology's impact on business, startup culture, and emerging

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