Kinetic Green Aims for Rs 900 Crore Turnover in FY25 with New Electric Three-Wheelers

Key Highlights:

• Kinetic Green targets Rs 900 crore turnover in FY25.
• New three-wheelers to cover 100% of the market.
• Aims for 10% market share in 4-5 years.
• Products priced between Rs 1.2 lakh and Rs 4.5 lakh.
• Focus on expansion with new funding for R&D and marketing.

Kinetic Green expects a turnover of Rs 900 crore in FY25, driven by rising demand for its recently launched electric scooters and three-wheelers.

On Wednesday, the company unveiled a new range of three-wheelers on an entirely new platform, aiming to capture nearly 100% of the booming Indian electric three-wheeler market. It aims to gain a 10% market share in the next 4-5 years by expanding into ASEAN, Africa, and Latin America.

On the sidelines of an event in Pune, Sullaja Firodia Motwani, Founder and CEO of Kinetic Green said, "We closed FY24 with a turnover of Rs 300 crore; this should almost triple in the current year, backed by strong demand for E Luna and the new three-wheelers aimed at the B2C segment. We expect to generate Rs 900 crore in revenue, with three wheelers accounting for 35% and two wheelers accounting for 65%."

The company claims that with the L3 and L5, it now has the most diverse product range in this category. This increases the addressable market from 10% to 100%. Prices for the products would range from Rs 1.2 lakh to Rs 4.5 lakh.

Kinetic Green has recently inaugurated a completely new plant for electric two and three-wheelers. It has sold over 1 lakh electric vehicles in India, generating over Rs 1200 crore in income so far.

"We're announcing our next phase, 3.0. Now is the moment to aggressively scale up and increase our presence. A lot more is on the way," Motwani stated.

In August of this year, the company raised $25 million from Greater Pacific Capital, with another $15 million on the way. This fund will be utilized to invest in research and development, supply chain development, and marketing acceleration.

Firodia estimates three-wheeler penetration in the country to reach 75% by the end of the decade. She expects the electric three-wheeler market to reach Rs 40,000 crore by the end of the decade.

Swapping and fast charge

Kinetic Green also unveiled its superfast charging solution. The vehicle can charge in 15 minutes and have a range of 100 kilometers. The company presently has 100 charging stations and plans to increase to 250 stations this year before expanding to up to 1000 locations.

Kinetic Green intends to sell approximately 1.5 lakh three-wheelers and generate Rs 3,400 crore in revenue by the end of this decade.

Also Read: Kinetic Green Secures $25 Million Investment

CMV360 Says

Kinetic Green’s ambitious plans highlight its commitment to growing in the electric vehicle market. The company's focus on both two-wheelers and three-wheelers, along with its fast-charging technology, shows its understanding of the market’s need for efficiency and convenience.

However, achieving a 10% market share in the highly competitive EV industry may be challenging, especially as more players enter the market. Its success will depend on how well it can scale up production, expand infrastructure, and maintain affordability for consumers.