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СпутникиРНSpaceXРоскосмосNASAKinetic Engineering has announced an additional investment of approximately Rs 57 crore to finance manufacturing capex and accelerate the expansion of its electric vehicle business. Following this transaction, total promoter shareholding in the flagship firm has increased from 50% to 69.27% over a four-year period.
Under the capital allocation plan, approximately Rs 17 crore will be directed toward capital expenditure at its manufacturing base to support newly acquired driveline export contracts. These long-term export orders to Europe and Mexico carry a cumulative value of approximately Rs 500 crore over a seven-year delivery schedule. The remaining balance of Rs 40 crore will be infused into its electric mobility subsidiary, Kinetic Watts and Volts, to support product development, supply-chain scale, and retail network rollouts for its electric two-wheeler portfolio.
Kinetic recently introduced the electric version of the Kinetic DX and DX+ scooters. To build its retail distribution footprint, the company says it has signed letters of intent with over 150 dealers across the country, with more than 60 touchpoints currently operational with integrated sales, service, and spares facilities.
Ajinkya Firodia, Vice Chairman and Managing Director, Kinetic Engineering, said, "Kinetic Engineering is entering an exciting phase of growth, with strong momentum across both our automotive components and electric mobility businesses. With continued investments in capacity, technology and our retail network, we are focused on scaling both businesses and building Kinetic into a leading and enduring player in India’s electric mobility segment."
Kinetic funds Rs 500 crore export order for Europe and Mexico while backing subsidiary Kinetic Watts and Volts.
Kinetic Engineering has announced an additional investment of approximately Rs 57 crore to finance manufacturing capex and accelerate the expansion of its electric vehicle business. Following this transaction, total promoter shareholding in the flagship firm has increased from 50% to 69.27% over a four-year period.
Under the capital allocation plan, approximately Rs 17 crore will be directed toward capital expenditure at its manufacturing base to support newly acquired driveline export contracts. These long-term export orders to Europe and Mexico carry a cumulative value of approximately Rs 500 crore over a seven-year delivery schedule. The remaining balance of Rs 40 crore will be infused into its electric mobility subsidiary, Kinetic Watts and Volts, to support product development, supply-chain scale, and retail network rollouts for its electric two-wheeler portfolio.
Kinetic recently introduced the electric version of the Kinetic DX and DX+ scooters. To build its retail distribution footprint, the company says it has signed letters of intent with over 150 dealers across the country, with more than 60 touchpoints currently operational with integrated sales, service, and spares facilities.
Ajinkya Firodia, Vice Chairman and Managing Director, Kinetic Engineering, said, "Kinetic Engineering is entering an exciting phase of growth, with strong momentum across both our automotive components and electric mobility businesses. With continued investments in capacity, technology and our retail network, we are focused on scaling both businesses and building Kinetic into a leading and enduring player in India’s electric mobility segment."
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