Electric vehicle (EV) maker Kinetic Green has successfully raised $25 million from Greater Pacific Capital (GPC), a global private equity firm. This investment is part of Kinetic Green’s ongoing Series A funding round, where the company plans to raise up to $40 million in total.
How Kinetic Green Plans to Use the Funds
Kinetic Green intends to use the newly raised capital to scale up production at its manufacturing facility in Supa, Maharashtra. The company will also invest in marketing and distributing its current range of electric vehicles, which includes the recently launched E-Luna. Additionally, a portion of the funds will be directed towards research and development (R&D) to create new EV products.
Focus on Expanding Market Reach
Since entering the EV market in 2016, Kinetic Green has established itself as a significant player in India’s rapidly growing electric vehicle sector. The company is actively working to expand its dealership network and aims to sell over 100,000 electric vehicles in the upcoming year.
Beyond its domestic growth, Kinetic Green is also looking to enter international markets. The company is developing a premium golf cart range in collaboration with the Lamborghini family from Italy, which reflects its ambitions to make a global impact in the EV industry.
Leadership Comments on the Investment
Sulajja Firodia Motwani, Founder and CEO of Kinetic Green, shared her excitement about the partnership with Greater Pacific Capital. She stated, “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 of GPC, also expressed his enthusiasm for the partnership, highlighting the importance of India’s energy transition. He said, “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.
Innovation in Automotive Sector
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.”
