Kinetic Green forays into B2C segment; eyes Rs 10,000 crore in revenue by 2030

Kinetic Green, the manufacturer of e-luna, has forayed into B2C (business-to-consumer) electric three-wheeler segment and is eyeing a revenue of Rs 10,000 crore by FY30, Sulajja Firodia Motwani, co-founder and CEO of Kinetic Green, told reporters on Wednesday.

The company currently has a 3% market share in electric three-wheeler segment and plans to scale it to 30-35% by 2030.

“If you look at the total market for three wheelers, 10% is B2B and B2G and 90% is B2C, and that will be the cornerstone of our future strategy. The opportunity is very large of electric three wheelers,” says Motwani.

Meanwhile, the company is eyeing Rs 900 crore in revenue for FY25 with 15,000 units in sales, according to Motwani. Of this, 65% will come from two-wheelers, whereas 35% will come from three-wheelers, says Motwani.

The company, which was founded in 2016, has clocked Rs 1,200 crore in revenue so far. The manufacturer of e-luna clocked Rs 300 crore in revenue in FY24 backed by strong sales of its two-wheelers.

As part of Kinetic Green 3.0 strategy, the company is also looking to focus on the on the electric three-wheeler segment with its L3 and L5 platforms.

Notably, Kinetic has a legacy of producing successful moped Luna and Kinetic Honda scooter. In 2008, it partnered with Mahindra & Mahindra for new products in two-wheeler segment. The partnership, however, fell through and Mahindra exited the joint venture in 2014.  However, in 2016, Kinetic which was christened as Kinetic Green announced that it is working on electric two-wheeler and introduced e-luna in February this year.

The company is also working to launch a family electric scooter in the next 18 months. Earlier this year, the company announced that it raised $25 million from Greater Pacific Capital (GPC) which it plans to utilise in research and development.