Pune, 14th October 2024: Kinetic Engineering Limited, a leading auto component manufacturer in India, has announced an investment of ₹30 crores into its newly formed electric subsidiary, Kinetic Watts and Volts Limited. This strategic infusion builds upon the company’s initial investment of ₹18.5 crores, raising the total investment to ₹48.5 crores. This investment underscores Kinetic Engineering's focus on advancing innovation in the electric vehicle (EV) space, particularly in the areas of advanced EV technology and battery solutions.
The fresh capital investment will focus on expanding Kinetic Watts and Volts limited’s research, development, and manufacturing capabilities. With the EV market growing rapidly in India and globally, the company is poised to leverage its expertise and infrastructure to contribute significantly to the country’s green mobility transformation. The funding will support the development of high-performance, efficient, and sustainable electric vehicle systems, with an emphasis on state-of-the-art battery solutions designed to enhance vehicle range, reliability, and energy efficiency.
Commenting on this development, Mr Ajinkya Firodia, Managing Director of Kinetic Engineering, stated, “The electric vehicle market is rapidly evolving, and Kinetic Engineering is dedicated to staying at the forefront of this revolution. With the latest infusion of capital into Kinetic Watts and Volts Limited, we are not only reinforcing our commitment to innovation but also taking tangible steps towards a more sustainable future. This investment will empower us to create efficient, reliable, and advanced electric mobility solutions for our customers in the Indian market.”
Kinetic Watts and Volts Limited was established to spearhead Kinetic Engineering’s transition into the green energy sector. This recent investment is aligned with the company’s strategy to drive innovation through sustainable technologies. By focusing on EV technology and battery solutions, Kinetic Watts and Volts Limited aims to bring next-generation electric mobility solutions to the market while supporting India’s ambitious goals for reducing emissions and promoting renewable energy.
With India’s electric vehicle market poised for exponential growth, Kinetic Engineering is committed to making electric mobility accessible, reliable, and sustainable for all. The additional funding will accelerate the company’s efforts to deliver on this promise and position Kinetic Watts and Volts Limitedas a leader in the EV space.
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