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Electric vehicles (EVs) manufacturer Kinetic Green on Wednesday said it will invest ₹100 crore in the next 12-15 months for expansion and brand building of E-Luna and expects to generate around ₹1,200 crore revenue in the next financial year.
The company will also expand its reach to around 1,000 dealers in the next two years, from 350 now. It will expand to 500 dealers this year.
“We had a pilot launch of the E-Luna in Maharashtra and got a fantastic response. We sold 3,000 units in the last two months -- 1,500 to customers and the rest to the business-to-business (B2B) customers,” Sulajja Firodia Motwani, Founder and CEO of Kinetic Green, told businessline on the sidelines of the E-Luna launch here.
She said the company’s aim is to sell not only in urban and tier-I cities, but in every tehsil of the country.
The company expects around ₹800 crore revenue to accrue from Luna segment alone in the next financial year (from the total ₹1,200 crore). The company had generated a turnover of ₹350 crore last financial year.
“We expect to sell one-lakh units of E-Luna next financial year. We have a lot of queries from interested customers from all over India so we want to build a relationship with all,” Motwani said.
The company has launched the E-Luna at an introductory price of ₹69,990 (ex-showroom). The vehicle will give a range of 110 km per charge.
Also read: GFCL EV to invest ₹6,000 cr in next 4-5 years
E-Luna variants will offer options of 1.7 kWh, 2 kWh and subsequently, a 3 kWh battery pack with 150 km per charge riding range, empowering customers to choose the E-Luna as per their range and price requirement. E-Luna’s battery meets the highest safety standard with efficient thermal management. E-Luna is available with fast charging battery technology and swappable battery options, specially for B2B used cases, she said adding that owning an E-Luna will also save a lot to customers as compared to internal combustion engine (ICE) vehicles.
“Currently the total cost of owning a petrol-based two-wheeler is around ₹6,000-7,000 per month, with EMI of ₹2,500-3,000 per month and petrol cost of around ₹3,000-4000 per month, making personal mobility unaffordable for many. E-Luna’s total cost of ownership (TCO) will be below ₹2,500 per month, with EMI of around ₹2,000 per month and charging cost of just ₹300 per month,” Motwani added.
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