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.” 

Comments (0)

ADD COMMENT

Link Copied!

Ahmedabad-based electric two-wheeler brand Avore Electric launched its first electric motorcycle – the Avore Electric EX at prices starting at INR 124,999 (ex-showroom).

The e-motorcycle is available in three variants – the EX 2S, EX 2 and EX 1. The model range was developed over three years using the company's indigenous AVORE Source technology stack and AVR vehicle platform. The development process involved over 120 intellectual property filings across nine vehicle systems, including the battery management system, motor controller, onboard charger and operating system.

The EVs use a rare-earth-free Permanent Magnet Synchronous Motor (PMSM) with peak power output ranging between 7.5 kW and 10.5 kW depending on the variant, while all three models produce 250 Nm of peak wheel torque.

The EX 2S attains a claimed top speed of 114 kmph, whereas the EX 2 and EX 1 reach top speeds of 100 kmph. The powertrain utilises an integrated motor and swingarm structure to manage chassis balance and weight distribution.

The EX 2S and EX 2 carry IDC-certified range ratings of 260 km and 255 km respectively, while the EX 1 carries an IDC-certified range rating of 160 km. All variants include a 1500W onboard charger compatible with standard 5A and 15A domestic sockets, charging the battery from 20 per cent to 80 percent in two hours and reaching a full charge in a claimed four hours. The battery pack is homologated by NATRAX, and the battery management system is validated by ICAT.

Software systems integrated into the platform include the AVORE SENSE operating system, an artificial intelligence (AI) companion named Avore Synapse and an automatic manual gear mode. The platform complies with AIS 156 and AIS 038 safety standards and underwent 100,000 km of road testing alongside 2,500 hours of dynamometer testing prior to commercial introduction.

Priyank Rakholiya, Founder, Avore Electric, said, "We dedicated three years to research, development, testing, and validation before the launch of the EX so as to ensure class-leading engineering and innovation. We are ensuring global-levels of safety and performance, while pushing the frontiers of Indian-developed electric mobility technology stacks that deliver reliability, consistency, and economic viability. Our goal is to improve adoption and accessibility to world-class electric mobility solutions for every Indian and we are confident that the EX is just the start of our journey towards that direction."

Bookings for the EX series have opened on the manufacturer's website at an initial reservation amount of INR 799, with customer deliveries scheduled to begin in two months. The battery pack is supplied with a 5-year or 60,000 km warranty.

Comments (0)

ADD COMMENT

Link Copied!

Energy In Motion, a provider of integrated electric mobility solutions for long-haul freight transportation, has executed an agreement with Hindustan Petroleum Corporation to establish and operate charging and battery swapping infrastructure for heavy commercial vehicles at retail outlets across India.

As per the understanding, Energy In Motion will deploy swap-and-charge hubs on freight corridors including Mumbai–Pune, Delhi–Jaipur and Chennai–Bangalore over the next 18 to 24 months. These stations will support vehicles such as the Ashwa 55-tonne e-tractor, providing battery exchange capability in 7 minutes.

Energy In Motion manages battery inventory and hardware, while Hindustan Petroleum Corporation provides space and utilities across its network of over 25,000 retail outlets.

Narendra Murkumbi, Managing Director, Energy In Motion, said, “Charging infrastructure succeeds or fails on reliability. Working with HPCL allows us to place charging and swapping where drivers already stop – sites with power, space, amenities, safety systems and staff on duty. Combining our battery and fleet expertise with HPCL’s nationwide retail network lets us build dependable swap-and-charge hubs on the corridors that carry India’s freight and to do it at the pace the transition demands.”

Comments (0)

ADD COMMENT

Link Copied!

Hero MotoCorp's electric mobility brand, VIDA, has made its international market entry into Nepal through a partnership with CG Motors.

The launch was announced by Kausalya Nandakumar, Chief Business Officer, Emerging Mobility Business Unit, Hero MotoCorp and Nirvana Chaudhary, Managing Director, Chaudhary Group.

The introduction features the VIDA VX2 Evooter range – comprising the VX2 Plus and VX2 Go variants – alongside the VIDA DIRT.E K3 youth off-roader. The VX2 Plus features a 4.4 kWh setup, delivering a 140 km range and a top speed of 90 kmph, while the VX2 Go uses a 2.2 kWh battery with a 75 km range. The DIRT.E K3 is an electric off-roader equipped with a 350W motor and app-based parental controls.

Kausalya Nandakumar said, “This launch marks a proud and defining moment as VIDA goes global. We are thrilled to take the very best of our engineering and design capabilities beyond India, starting with Nepal, a strategically crucial market where riders are quickly adopting smart electric mobility. The VIDA VX2 EVOOTER range and the VIDA DIRT.E K3 are built to redefine the future of mobility, and through our collaboration with CG Motors, we are ensuring that the Nepalese customers have access to premium, reliable, and technologically advanced riding experience.”

Nirvana Chaudhary added, “The entry of VIDA perfectly aligns with Nepal's shift towards sustainable mobility. By offering advanced electric products & solutions tailored for both, everyday commuters and the next generation of riders, this product launch redefines our two-wheeler landscape. CG Motors is proud to strengthen its partnership with Hero MotoCorp and partner with VIDA to drive our nation's green transition forward."

Comments (0)

ADD COMMENT

Link Copied!

Pune-headquartered electric commercial vehicle manufacturer EKA Mobility has announced that Dr. Hussein Ali Mwinyi, President of Zanzibar, recently flagged off 15 EKA Mobility electric buses in Zanzibar. The commercial operations for the e-buses is scheduled to begin on 1 August 2026.

The deployment forms part of an initial order of 35 e-buses, with the fleet expected to expand to 150 units by the end of the year.

EKA Mobility is collaborating with Global Rapid Transport and the Zanzibar Social Security Fund to train local personnel in vehicle operations, maintenance and safety systems.

Vijay Yelne, President – Export Marketing & SCM, EKA Mobility, said, "The launch of Zanzibar's first electric bus fleet is a strong validation of EKA's technology and our ability to deliver world-class electric mobility solutions beyond India. It demonstrates that products designed and manufactured in India can successfully meet the evolving mobility needs of international markets. This is another step in taking Indian engineering to the world, and we see Africa as a key growth market in EKA's global expansion journey."

Comments (0)

ADD COMMENT

Link Copied!