Pune-headquartered Kinetic Green Energy & Power Solutions has teamed up with China-based electric vehicle giant Aima Technology Group to co-design and develop electric two-wheelers for the rapidly growing domestic market.
The partnership will enable Kinetic plans to aggressively scale up the E2W business and build the capacity of 5-lakh units a year in the next two years, the company said. As part of the collaboration, Aima will assist Kinetic with design and support for modifications and rapid localisation of the models to suit Indian customer requirements.
The two partners plan to launch at least three new models in India in FY23, including models from
Aima's new advanced high-speed scooter platform.
The Two-wheelers developed under the collaboration will be marketed under the Kinetic brand, the company said, adding the partners have explored launching co-branded models in the future, including bringing new global brands to India.
In a span of an year, Kinetic and Aima further plan to explore a joint venture where Kinetic will leverage its brand and production capabilities and Aima can leverage its technology, R&D and global outreach to expand massively, it noted.
The JV will help bring the respective might of the two players to develop and market a differentiated range of EVs with advanced technology to aggressively scale up the business to be a leading player in this fast-growing space, the company said.
According to Kinetic, buoyed by increasing petrol prices on one hand and favourable government policies leading to reduced prices for electric vehicles and fast-evolving EV eco-system, the E2W segment is poised for rapid growth.
"Kinetic Green's vision is to bring a wide range of advanced, innovative yet affordable electric vehicles to the Indian mass market. We are delighted to partner with the World's largest and leading EV player, Aima, and are looking forward to working together with them," said Sulajja Firodia Motwani, founder-CEO, Kinetic Green.