The kinetic engineering on Monday announced its return to two -wheeled space and said that it aims to invest about RS 177 crores in the next 18 months to increase the sales network and increase production.The company based in Punge, which produced and sold the iconic DX Scooter kinetic from 1984 to 2009, aspires to be among the leaders in the two -wheeled electrical space in the next three years.
On Monday, the company launched Kinetic DX Scooter in an electric avatar with an estimated 116 km interval with a single charge.
In an interaction with PTI, the vice -president of kinetic engineering and CEO Ajinkya Firodia said that the company aims to expand the production and sale network gradually.
“We aim to touch 1.5 Lakh sales units in the next 3-4 years and to sell that number we would require about 300 dealers,” said Firodia. The company plans to produce about 40,000 units by August 2026 and therefore gradually resize production, he added.
“The company aims to reach a 6-8 percent market share in the next three years, targeting the first three players in the segment,” said Firodia.
He observed that the top five or six producers are dominating the internal electric two -wheeler segment with a market share of about 90 %.
On future investments, Firodia observed that the company has committed to investing RS 177 crores in the sector in the next three years.
When asked about the sales network, he said that the company has currently appointed 20 retailers and plans to expand the number to 160 in the first year.
It would be reduced up to 300 dealers in the next three years, with the western region which is the first focus area, followed by parts of the northern, eastern and southern country, said Firodia.
He underlined the importance of having a reliable brand with a good service is crucial for long -term success in the Indian market.
The company also provides for the electric scooter on various markets at a global level later, he added.
Kinetic Engineering Ltd (Kel) is entering the electrical space through a subsidiary entirely owned-Kinetic Watts and Volts Ltd.
It was established in September 2022.
Kinetic Watts and Volts has already been capitalized with RS 72 crores through Kel and promoters.
The promoters recently promised a further cror of RS 177 to Kel, with a significant part dedicated to the downsizing of the DX platform.
The kinetic right has a price of RS 1,11.499 and the DX+ kinetic has a price of RS 1,17.499 (ex-showroom, Punk).
The electric scooter, which is provided with various connected features, can go up to 90 km/hour.
“By reviving this icon it did not only concern the only launch of a scooter, it was a question of bringing back the reliability, innovation and robustness that defined the kinetics for decades, giving it a soul ready for the future,” said Firodia.
He observed that the company was able to design an engine that works without rare terrestrial magnets, facing the current problems of the supply chain.
