Kinetic Green has announced that it has signed a pact with auto component maker Autoline Industries for mutual development and marketing of e-cycles. Under the association, Autoline will embark on the development of the electric cycle critical assemblies with almost 100 percent localization.
The two partners have “positively” developed their first two models, named ‘E-Speed,’ which will be available in the domestic market from the next month at a price of Rs 24,999, the joint release indicated.
“Kinetics vision is to bring a wide range of innovative yet affordable EVs to the Indian mass market,” Arun Firodia chairman of Kinetic Group said. He urged the government to extend the subsidy incentives under the FAME-II scheme to the e-cycle segment as well which are currently only for electric two and three-wheelers besides cars.
The E-Speed will be built at Autoline Industries Pune plant, which has a capacity to assemble 1,000 such cycles per month and it can be expanded up to 10,000 units per month.
These Lithium-ion batteries-equipped e-cycles comes with a top speed of 25 km/h and can run 30 km on a single charge. It takes only three hours to fully charge the batteries, which are detachable and lightweight, enabling it to be carried to home for charging on a simple domestic socket, the company said.
The e-cycles will be marketed through Kinetic Greens dealership network across 150 cities, the release said, adding the aim is to promote the offerings pan-India. Initially, Kinetic and Autoline will introduce e-cycles in two variants and will later introduce more models as per market demand.
“This is a part of our company’s strategy of exploring various business opportunities in a challenging business environment to prepare ourselves for the future. We feel that e-cycles have the potential to make a massive impact on the micro-mobility market as well as to help improve fitness levels of our health-conscious millennials,” said Shivaji Akhade, promoter and managing director, Autoline Industries.
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