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Kinetic-Lamborghini JV aims for 10% of $5 bn global golf cart market
The JV, Kinetic Green Tonino Lamborghini, is structured as a 70:30 partnership, with Kinetic Green holding the majority stake. While Lamborghini brings its iconic brand, design expertise and intellectual property, the engineering, manufacturing, and financial investment will come from Kinetic Green. The JV has already begun deliveries in India and exported a few units to the UAE, she said in an interview with 'Business Standard' in New Delhi.
The Pune-based facility, set up exclusively for this venture, can produce 3,600 carts annually and is designed for easy scalability. The JV plans to sell 25,000 carts annually by 2030, generating $300 million in annual revenue. It has set a longer-term target of $1 billion in turnover within 10 years, she mentioned.
The global golf cart market is worth $5 billion, with annual sales of around 500,000 units worldwide. It is projected to grow at a compound annual growth rate of 8-10 per cent over the next five to six years. According to Motwani, 25-30 key global markets account for 80-90 per cent of this demand.
Motwani said the global market is dominated by players such as Club Car, E-Z-Go, and Yamaha. About 45 per cent of the global market is still fragmented. 'This opens up significant space for a new entrant that can offer high design and engineering standards at competitive prices...'We are aiming to grab 10 per cent of the global golf cart market over the next 10 years,' she said.
Golf carts are no longer restricted to golf courses. While 55 per cent of the global demand comes from golf courses, the remaining 45 per cent is from luxury resorts, airports, tourism zones, corporate campuses, universities, and ashrams. 'The category has evolved, but the product hasn't -- that's where we come in.'
The new models will be launched under the Tonino Lamborghini brand and will feature the iconic red bull logo. The range includes 2-, 4-, 6-, and 8-seater variants, with localisation levels of 95 per cent. The vehicles will offer ranges of 80 to 150 km per charge, powered by lithium-ion batteries. A solar roof option, expected within 12 months, will reduce battery load by 15–20 per cent.
Motwani said the JV is also working on a driverless version, with a launch targeted in 18 months. The company has signed an MoU with Infosys to co-develop driverless carts, she noted.
While India is still a small market for golf carts — about 1,500 units are sold annually — Motwani said the focus is not just on India but global. The company aims to be present in top 30 markets, starting with Asia and West Asia. The go-to-market strategy involves appointing distributors in each key market, supported by India-based manufacturing and supply chains. In countries where import duties favour CKD (assembly) operations, the JV is open to setting up local assembly units.
Two distinct product lines have been developed: the Genesis Range, representing a classic Italian design aesthetic, and the Prestige Range, with a more futuristic, ultra-premium approach. Both ranges are built not just for performance but also for comfort, featuring advanced suspensions, hydraulic brakes, wireless mobile charging, and universal drive configurations to accommodate both left- and right-hand traffic.
'Asia is seeing rapid growth, and we want to capitalise on that,' said Motwani, adding that the company has secured distributors in India, the UAE, Maldives, and Saudi Arabia. Talks are underway with partners in Sri Lanka, New Zealand, Thailand, and Indonesia, with Europe and the US to follow.
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