Electric two-wheeler maker Kinetic Green is looking to invest Rs 100 crore for developing the e-Luna, which is set for a formal launch next month, the company’s Founder and CEO Sulajja Firodia Motwani said.
The booking of e-Luna will start on January 26 and the vehicles will be available next month, paving the way for the return of the Luna brand — this time in an electric avatar — over five decades after its first launch, the company said in a statement on Wednesday.
The e-Luna will address the needs of passengers and last-mile delivery segments, and has the potential of a multi-utility vehicle, she said.
The e-Luna comes to the market five decades after the launch of the Luna moped.
She said the prospects of Electric Vehicles (EVs), particularly e-two-wheelers, in India are “very bright” in the near future.
“I think in all, over the next 24 months, we intend to invest Rs 100 crore on the brand,” she told PTI.
The e-Luna is not just for India, but for Bharat, she said, adding that even tier-II, III cities, along with smaller locations, are going for EVs.
“And e-Luna is very well designed to cater to a very large section of the population,” Motwani said, adding that the timing of the launch is “absolutely right” from all perspectives — be it the brand, the product, the economics, or the pricing.
She said the company has seen “good traction” on both passenger and last-mile segments of the e-moped.
“We have deployed about 1,500 vehicles for last-mile delivery in a pilot stage and we think we will get very good response from this segment as well. We are also going to sign an MoU for a very large quantity very soon,” she stated.
The company is expecting a demand of 50,000-70,000 e-Luna units for the passenger B2C network and another 20,000-30,000 units for the last-mile delivery segment, Motwani said.
Kinetic Green has 300 dealerships across the country for two-wheelers, and the plan is to eventually take the number to 1,500 over the next three years, Motwani said.
Kinetic Green has also commissioned a new production line with a capacity to assemble five lakh e-Luna units annually, she added.
