Kinetic Green Energy set for ₹250-crore expansion
Kinetic Green Energy and Power Solutions Ltd, part of the Kinetic & Firodia Group, is planning an aggressive expansion programme which will involve the company investing about ₹250 crore. For this, the Pune-headquartered company will be raising about $35 million (₹250 crore) from private equity investors.
The company’s current growth plan follows traction in India’s electric three-wheeler market on the back of a favourable policy framework, greater affordability and price parity with fossil fuel vehicles, among others.
“Now, we feel that we have reached the point of inflexion with battery-swapping, government policy and other favourable factors; we are looking at growing aggressively in the years to come,” said Sulajja Firodia Motwani, founder and CEO of Kinetic Green.
