Kinetic Green Energy & Power Solutions has joined forces with China-based EV giant Aima Technology Group to co-design and develop electric two-wheelers for the rapidly growing domestic market.
Through this partnership, Kinetic plans to aggressively scale up the E2W business and build the capacity of 5-lakh units a year in the next two years, the company said.
“We are delighted to partner with the World’s largest and leading EV player, Aima, and are looking forward to working together with them,” said Sulajja Firodia Motwani, founder-CEO, Kinetic Green.
“Together, the two partners will bring advanced EV technology to India, and create maximum social impact by bringing these innovative products within the reach of our large population, just like the impact made by its Kinetic Luna or Kinetic Honda earlier,” she said.
“We are also committed to building a strong EV eco-system together, including local supply chain, and convenience of fast charging, battery swapping, long-range EVs to popularize this technology across the length and breadth of India,” Sulajja added.
“We are pleased to join hands with Kinetic Green, as KG has proved themselves to be the pioneers in India’s automobile industry, with a good track record of Joint Venture with international brands,” said Su Yuhang, President, Aima Technology Group.
Kinetic had launched its e-two-wheelers last year.
As part of the collaboration, Aima will assist Kinetic with design and support for modifications and rapid localization of the models to suit Indian customer requirements.
The two partners plan to launch at least three new models in India in FY23, including models from Aima’s new advanced high-speed scooter platform.
Initially, the two-wheelers developed under the collaboration will be marketed under the Kinetic brand, the company said, adding the partners have explored launching co-branded models in the future, including bringing new global brands to India.
Within a year, Kinetic and Aima further plan to explore a joint venture where Kinetic will leverage its brand and production capabilities and Aima can leverage its technology, R&D and global outreach to expand massively, it noted.
According to Kinetic, buoyed by increasing petrol prices on one hand and favorable government policies leading to reduced prices for electric vehicles and fast-evolving EV eco-system, the E2W segment is poised for rapid growth.
Kinetic Green’s vision is to bring a wide range of advanced, innovative yet affordable electric vehicles to the Indian mass market.