· KEL to provide complete power train solutions for 2, 3 and 4 wheeler electric vehicles including axles, gearboxes, motors and controllers
· KEL to manufacture a complete retrofit kit for converting an IC engine driven 3 wheeler to an electric 3 wheeler
Pune, July 23 2019: With a vision to have a Kinetic in every automobile, Kinetic Engineering Limited (KEL), the flagship company of the Kinetic Group, announces its contribution to the Indian government’s vision of promoting electric vehicles (EV) in India.
Kinetic shall utilize its strong technical knowledge, vast manufacturing experience and vertically integrated in-house capabilities to provide high-quality systems and components to its EV customers. The company will soon be initiating the development of axles and gearboxes for the EV market.
KEL sees huge opportunities in providing a complete power train solution, and hence proposes to design, develop and manufacture 2 speed gear boxes, and complete rear axle assembly along with the motor and controller, which is ready to fit onto vehicles. The kits will range from 1 KW to 10 KW and will be useful for scooters, mopeds, passenger and load carrying 3 wheelers and even trucks and buses. There is a great demand from existing vehicles using internal combustion (IC) engines which have crossed their useful life, to be converted into electric vehicles and these kits can be used for the same. The rollout of the kits shall be in a phase wise manner starting with the 2 and 3 wheeler segment and will later be introduced for higher KW powertrains. Currently, such kits are imported from abroad, mainly China and therefore development of such kits will be a pioneering initiative by Kinetic.
Speaking about this development, Mr Ajinkya Firodia, the Managing Director of KEL said, “In the automotive world, electro mobility is gaining massive acceptance as it eliminates emissions which is one of the major reason for climate change, and reduces the use of fossil fuels thereby protecting the environment. We see this initiative of KEL as contributing to our government’s mission of promoting EVs as a part of controlling air pollution and providing a cleaner, greener environment. It is a futuristic step for our automotive industry and also backs the “Make in India” initiative. KEL expects to service around 400,000 units across 3 wheelers, 2 wheelers, and mini 4 wheel applications by the year 2025, having a business potential of more than INR 200 crores.”
The Pune based company, which has been in the industry for over four decades, has been a pioneer in the automotive industry. The company’s manufacturing unit in Ahmednagar is spread over 70 acres and has over 800 employees, 32 manufacturing sheds and more than 400 machines. All of KEL’s products are IATF 16949 certified. The company, which is headquartered in Pune manufactures about 75 different auto components and stands by its vision of ‘Kinetic in every automobile’
About Kinetic Engineering Limited
Kinetic Engineering Limited is the flagship company of the Kinetic Group with four decades of manufacturing experience. With strong technical knowledge, vertically integrated in-house capability and strong customer centricity, the company is on an impressive growth path. KEL manufactures its own gearboxes for commercial vehicle applications and also makes transmission components for tractors, passenger cars, and off road vehicles. It produces essential engine components and can manufacture and assemble products like mopeds, motorcycles, etc. It has a huge export focus, with 45% percent of its business coming from exports, and has developed components such as a spline yoke, stub shafts, sleeves and flanges for customers in the US.
KEL’s notable customer list includes Renault, American Axle, TATA motors, Mahindra & Mahindra, Ashok Leyland, Magna Powertrain, Bombardier Recreational products and many others. It has over 1000 employees at its large manufacturing plant in Ahmednagar, while its corporate office is based in Chinchwad, Pune.
Kinetic Engineering Limited stock is quoted on the BSE: 500240
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