Kinetic Green, one of the leading manufacturer of electric two- and three-wheelers has bagged $25 million (INR 2.08 billion) investment from Greater Pacific Capital (GPC), a leading global private equity firm, as part of an overall targeted Series A fundraise of up to $40 million (INR 3.33 billion).

Founded in 2016, Kinetic Green is led by Sulajja Firodia Motwani, a third-generation member of the Firodia family, the founders of the Kinetic Group. Kinetic Green manufactures and sells a diverse range of products including electric two-, three-wheelers and golf carts. Till date, the company has sold over 1,00,000 EVs, generating cumulative sales over INR 10 billion.

This is the also the first external equity fundraise by Kinetic Green, and it comes at a time when the Indian EV market is at an inflection point. The company states that EV penetration in India has reached approximately 6 percent, with electric two-wheelers and three-wheelers seeing the fastest adoption and becoming the primary growth drivers of the sector. Furthermore, it is expected that EV sales in India will grow rapidly with a targeted 30 percent EV penetration by 2030, driven by favourable Government policies for increased adoption of electric two-wheelers and three-wheelers. 

The company is in the process of expanding its dealership network reach and is aiming to sell over 1,00,000 EVs over the coming year.

Kinetic Green aims to utilise the funds towards scaling up production at its manufacturing facility in Supa (Maharashtra), marketing and distribution of its current products including the recently-launched e-Luna, and towards research and development of new products. 

The EV maker launched the E-Luna in January 2024 in New Delhi in the presence of Nitin Gadkari, Union Minister of Road Transport and Highways. Since its launch the company claims, the E-Luna has received a tremendous market response in large and small towns of India, as a personal mobility solution and as a ‘business partner’, well designed for the fast growing e- commerce and home delivery segment.

In addition to scaling up its sales of electric two- and three-wheelers in India, Kinetic Green will also focus on global expansion, in particular through the launch of its premium golf cart range which are designed, developed and manufactured through an exclusive joint venture with the Lamborghini family of Italy.

GPC’s investment in Kinetic Green is through a combination of instruments including common equity shares, convertible preference shares and debentures. As part of the investment, Nandan Desai, Managing Director and Co-Head of India for GPC, will join Kinetic Green’s Board of Directors. The company is in active discussions with other potential investors to secure an additional $15 million (INR 1.25 billion) of funding which it aims to complete during 2024.

Sulajja Firodia Motwani, CEO, Kinetic Green said, “The partnership with Greater Pacific Capital marks a pivotal moment for Kinetic Green. Our mission has always been to lead the transition to sustainable mobility and make electric vehicles accessible to a broader audience. This investment will enable us to enhance our capabilities, drive zero-emission transportation, and contribute significantly to India’s energy transition goals. As India moves towards its 2030 EV targets, Kinetic Green is well-positioned to be a key driver in this transformation.”

Ketan Patel, Founder and CEO, GPC added: “India’s successful energy transition is critical for the world to meet its net zero objectives, and as the country scales into the third largest economy globally in the next 4-5 years, and its middle class rapidly expands, the electrification of transport will be a crucial element of this transition. The Kinetic Group has been at the forefront of innovation in India’s automotive sector for the last 50 years and with Kinetic Green and products such as the e-Luna, is well positioned to provide innovative and aspirational electric vehicles to India’s large, young and growing population. We are excited to partner with Kinetic Green to help them rapidly scale their business across the country and help drive India’s energy transition forward.” 

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Vida, the electric two-wheeler brand of Hero MotoCorp, aims to disrupt the electric two-wheeler segment with the introduction of a subscription-based Battery-as-a-Service (BaaS) model. This move is expected to make electric mobility more affordable, with the fine details set to be announced on 1 July 2025.

The company shared that in addition to a flexible ‘pay-as-you-go’ ownership model, the BaaS subscription solution will significantly reduce the upfront ownership cost, making EVs more affordable and accessible to a wider customer base. Customers will be able to get separate finance options for the scooter chassis and battery, reducing significant upfront capital expenditure into manageable monthly payments.

Under the new business model, Vida customers will have greater flexibility for their monthly payments, along with access to over 3,600 fast-charging stations and more than 500 service points in over 100 cities.

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Bengaluru-based electric vehicle startup Oben Electric has raised an additional INR 500 million in May 2025 through an extended Series A funding round led by existing investors Helios Holdings, Sharda family office, Kay family and other new and existing investors.

With this, the company has raised INR 1 billion in Series A and overall INR 2 billion in funding. The funding will be used towards expanding the company’s dealership presence to over 150 showrooms in more than 50 cities this fiscal, accelerating development of its 'O100' affordable e-motorcycle platform and scaling up its manufacturing operations.

Sandesh from Sharda family office, said, “Oben Electric had the right technology, product market fit and growth indicators. They are operating in an untapped large market opportunity with multi-fold revenue growth QoQ, the feedback of the electric motorcycle was great and their vertical integration of critical EV components, including LFP battery, motor and vehicle control unit is a key differentiator. We were also impressed by the maturity of the founders which is required to build such a large & complex business and believe that they would be successful in building the first global electric motorcycle brand from India.”

At present, Oben Electric already has 37 retail outlets across 26 cities in 13 states, entering key markets like Punjab, Gujarat, Madhya Pradesh, Telangana, Uttar Pradesh, Chhattisgarh and Odisha.

Madhumita Agrawal, Founder & CEO, Oben Electric, said, “The extended Series A funding is a strong vote of confidence from our investors and comes at a time when our momentum is accelerating nationwide. We’re expanding not just our retail footprint but also our innovation roadmap with platforms like O100 that aim to democratise electric motorcycles for the mass market. Backed by full vertical integration and a resilient supply chain, this funding prepares us for a new phase of scale, impact, and growth opportunities.”

The EV start-up claims to be an R&D-led, vertically integrated company, designing and manufacturing not just e-motorcycles but also all critical components, including batteries, motors, vehicle control units and home fast chargers. It currently has over 500 member team, 100,000-units-per-year manufacturing facility in Jigani, Bengaluru, over 150 vendors. It tests its e-motorcycles over 200 performance parameters and is supported by more than 68,000 public charging stations and over 10 ecosystem partners for insurance, financing and roadside assistance.

The Oben Rorr e-motorcycle line-up starts at INR 99,999 for the Oben Rorr EZ, which can go from zero to 40 kmph in 3.3 seconds, top speed of 95 kmph and a range of up to 175 km (IDC) across three battery variant. On the other hand, the Oben Rorr, its flagship product is designed for high performance. Both EVs are powered by high performance LFP (Lithium Iron Phosphate) battery technology.

Going forward, the EV maker aims to further raise USD 30 million in Series B in CY2025 to expand its presence globally.

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Bajaj Auto, the world's leading two and three-wheeler manufacturer, today announced the launch of the Chetak 3001, an advanced iteration of its popular Chetak 2903 electric scooter at INR 99,990. Built on the same cutting-edge EV platform as the highly successful Chetak 35 Series, the new Chetak 3001 boasts floorboard-mounted 3.0 kWh batteries, promising an enhanced riding experience with improved stability, increased storage and extended range.

Designed for Real Life: Key Innovations

The Chetak 3001 introduces several significant upgrades aimed at the everyday Indian rider:

• New Floorboard Battery Architecture: This design offers superior stability, more foot room and a lower centre of gravity for a more comfortable and mature ride.
• Class-Leading 127 KM Range: Certified for extensive distances, making it ideal for daily commutes and weekend excursions.
• Massive 35L Boot Space: Ample storage for essentials, from helmets to shopping bags.
• Rapid Charging: A 750W charger enables zero to 80 percent charge in just 3 hours 50 minutes, positioning it among the fastest in its category.

The Chetak 3001 integrates optional TecPac Features for a smarter ride, including call accept/reject, music control, Guide Me Home lights, Hill Hold Assist, reverse light and auto-flashing stop lamp.

True to Bajaj's legacy, the Chetak 3001 is engineered for durability and the diverse Indian conditions:

• Solid Steel Metal Body: The only metal-bodied EV in its class, ensuring robustness.
• IP67 Rated Water Resistance: Providing protection against monsoon rains and splashes.
• Trusted Heritage: Manufactured by Bajaj Auto, backed by a legacy of quality and a vast network of over 3,800 service centres across India.

Eric Vas, President, Urbanite Business Unit, Bajaj Auto, said, "Chetak 3001 sets the benchmark for mass adoption of electric scooters. Built on the next-generation platform, it delivers the range and performance that Indian scooter riders demand – distraction-free riding with the peace of mind of assured reliability and service. The Chetak 3001 is the everyday electric scooter to make petrol scooters redundant; its bigger, stronger and fully Lifeproof at an ex-showroom price of INR 99,990."

Riding on a wave of innovation, Bajaj's Chetak series concluded Q4 FY2025 Q4 as India's top-selling electric scooter. The 35 Series, spearheaded by models like the 3501 and 3502, has already redefined the EV landscape. The Chetak 3001 is set to continue this momentum, embodying a blend of advanced technology and the brand's enduring heritage.

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Bengaluru-based electric vehicle manufacturer Ultraviolette Automotive has made a striking statement today with the European launch of its flagship performance motorcycles, the F77 Mach 2 and F77 SuperStreet, at a special event held in front of the Eiffel Tower. This move into the French market, following a successful debut in Germany, underscores Ultraviolette's ambitious drive to become a significant global player in the electric vehicle segment. With this the EV maker has established its presence in 10 European countries such as Germany, France, UK, Ireland, Austria, Italy, Switzerland, Belgium, Netherlands and Luxembourg.

The F77 Mach 2 boasts a race-bred design, promising a dynamic and aggressive ride, while the F77 SuperStreet offers a more upright posture and refined ergonomics, prioritizing rider comfort without sacrificing performance.

Narayan Subramaniam, CEO & Co-Founder, Ultraviolette, said, “The launch of the F77 in Germany, France, the UK and other European countries is a defining moment for Ultraviolette and a landmark achievement for India’s automobile landscape. This launch signifies Ultraviolette’s entry into Europe’s most influential two-wheeler markets and underlines our intent to be a global force in the electric mobility revolution. As an Indian company, we are proud to bring futuristic design and cutting-edge technology to the world. This is a moment of global recognition for the talent and capability within India’s engineering and manufacturing ecosystem. Through our strategic distributor partnerships, we are not only expanding into Europe but also delivering a world-class ownership experience that reflects the best of what India has to offer.”

Both F77 models are capable of accelerating from 0 to 60 kmph in a mere 2.8 seconds. Powered by a 10.3 kWh battery pack, they deliver a peak power output of 30 kW and a staggering 100 Nm of torque, enabling swift acceleration and agile handling with a top speed of 155 km/h. These advanced motorcycles are equipped with Ultraviolette’s proprietary artificial intelligence system, Violette A.I., and industry-leading switchable Dual-Channel ABS developed by Bosch. Further enhancing the riding experience are features like 10 levels of Regenerative Braking, 4 levels of Traction Control and Dynamic Stability Control.

Niraj Rajmohan, CTO & Co-founder of Ultraviolette, added “This isn’t just the introduction of motorcycles into new markets, it’s the global unveiling of years of relentless research, engineering, and innovation, born in India. We set out with a bold ambition to build the most advanced electric motorcycle in the world. Today, we are delivering that vision to international customers. The F77 is the result of deep in-house R&D, rigorous testing, and an unwavering commitment to pushing the boundaries of performance, innovation, safety, and design. For India, this milestone represents not just our ability to participate in the global EV transition, but to lead it with technology that competes at the highest level."

To celebrate the European launch, Ultraviolette is offering a special introductory price for all pre-bookings made up to 31 July 31 2025. The F77 Mach 2 will be available starting at EUR 8,990 (regular price: EUR 9,990), and the F77 SuperStreet will be priced from EUR 9,290 (regular price: EUR 10,390).

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