Latest news with #E2W
Hans India
4 days ago
- Automotive
- Hans India
Kinetic Green plans to expand business
New Delhi: Electric vehicle maker Kinetic Green on Friday said it plans to expand its business with the launch of three e-scooters over the next 18 months. The first of the three new products is expected to be launched around the festive season this year, the Pune-based firm said in a statement. Kinetic Green has partnered with Italy's Torino Design to co-create a new range of ultra-futuristic scooters, it added. "Having sold over 80,000 E2Ws in this initial phase, created a strong manufacturing infrastructure and a network of 400 exclusive dealers for E2W in the country, we are ready to aggressively expand our E2W business," Kinetic Green Founder and CEO Sulajja Firodia Motwani said. Having joined hands with Torino Design, the company aims to redefine electric scooters in the coming months, she added. Kinetic Green began its EV journey in 2016 with a range of electric three-wheelers. In 2022, it entered the two-wheeler space and launched E-Luna in 2024. The model has seen success across both B2C and B2B segments, the company said. As per the company estimates, the e-scooter market is expected to scale rapidly in India over the next five years, with penetration expected to grow from 15 per cent to 70 per cent.
Economic Times
5 days ago
- Automotive
- Economic Times
EV maker Kinetic Green to expand business, launch three new e-scooters in next 18 months
EV calculator How much will I save if I choose an electric vehicle? SELECT vehicle type Calculate Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Electric vehicle maker Kinetic Green on Friday said it plans to expand its business with the launch of three e-scooters over the next 18 first of the three new products is expected to be launched around the festive season this year, the Pune-based firm said in a Green has partnered with Italy's Torino Design to co-create a new range of ultra-futuristic scooters, it added."Having sold over 80,000 E2Ws in this initial phase, created a strong manufacturing infrastructure and a network of 400 exclusive dealers for E2W in the country, we are ready to aggressively expand our E2W business," Kinetic Green Founder and CEO Sulajja Firodia Motwani joined hands with Torino Design, the company aims to redefine electric scooters in the coming months, she Green began its EV journey in 2016 with a range of electric three-wheelers In 2022, it entered the two-wheeler space and launched E-Luna in model has seen success across both B2C and B2B segments, the company per the company estimates, the e-scooter market is expected to scale rapidly in India over the next five years, with penetration expected to grow from 15 per cent to 70 per size of the e-scooter market in India is expected to touch the Rs 40,000 crore mark, according to the industry estimates. PTI
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Business Standard
5 days ago
- Automotive
- Business Standard
Kinetic Green plans to expand business; to launch 3 e-scooters in 18 months
Electric vehicle maker Kinetic Green on Friday said it plans to expand its business with the launch of three e-scooters over the next 18 months. The first of the three new products is expected to be launched around the festive season this year, the Pune-based firm said in a statement. Kinetic Green has partnered with Italy's Torino Design to co-create a new range of ultra-futuristic scooters, it added. "Having sold over 80,000 E2Ws in this initial phase, created a strong manufacturing infrastructure and a network of 400 exclusive dealers for E2W in the country, we are ready to aggressively expand our E2W business," Kinetic Green Founder and CEO Sulajja Firodia Motwani said. Having joined hands with Torino Design, the company aims to redefine electric scooters in the coming months, she added. Kinetic Green began its EV journey in 2016 with a range of electric three-wheelers. In 2022, it entered the two-wheeler space and launched E-Luna in 2024. The model has seen success across both B2C and B2B segments, the company said. As per the company estimates, the e-scooter market is expected to scale rapidly in India over the next five years, with penetration expected to grow from 15 per cent to 70 per cent. The size of the e-scooter market in India is expected to touch the Rs 40,000 crore mark, according to the industry estimates.
Time of India
5 days ago
- Automotive
- Time of India
EV maker Kinetic Green to expand business, launch three new e-scooters in next 18 months
Electric vehicle maker Kinetic Green on Friday said it plans to expand its business with the launch of three e-scooters over the next 18 months. The first of the three new products is expected to be launched around the festive season this year, the Pune-based firm said in a statement. Kinetic Green has partnered with Italy's Torino Design to co-create a new range of ultra-futuristic scooters, it added. EV calculator How much will I save if I choose an electric vehicle? SELECT vehicle type Calculate by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Villas For Sale in Dubai Might Surprise You Dubai villas | search ads Get Deals Undo "Having sold over 80,000 E2Ws in this initial phase, created a strong manufacturing infrastructure and a network of 400 exclusive dealers for E2W in the country, we are ready to aggressively expand our E2W business," Kinetic Green Founder and CEO Sulajja Firodia Motwani said. Having joined hands with Torino Design, the company aims to redefine electric scooters in the coming months, she added. Live Events Kinetic Green began its EV journey in 2016 with a range of electric three-wheelers . In 2022, it entered the two-wheeler space and launched E-Luna in 2024. The model has seen success across both B2C and B2B segments, the company said. As per the company estimates, the e-scooter market is expected to scale rapidly in India over the next five years, with penetration expected to grow from 15 per cent to 70 per cent. The size of the e-scooter market in India is expected to touch the Rs 40,000 crore mark, according to the industry estimates. PTI
Mint
06-05-2025
- Business
- Mint
Lacklustre Debut! Ather Energy share price lists 2% higher at ₹328 on NSE
Ather Energy IPO listing: Ather Energy, the first mainboard initial public offering of the financial year 2025-26 (FY26), witnessed a lukewarm debut in the Indian stock market on Tuesday, May 6, as it listed at just a 2% premium over its issue price of ₹ 321. On the NSE, Ather Energy share price on listing was ₹ 328, a premium of 2.18%. Meanwhile, on the BSE, Ather Energy shares debuted at ₹ 326.05, up 1.57%. The listing was lower than what the grey market signalled, as ahead of the stock market debut, Ather Energy IPO GMP today was ₹ 14. This indicates that in the grey market, Ather Energy shares were trading at ₹ 335 apiece, a premium of 4.36%. Ather Energy shares, meanwhile, reversed listing gains and traded in the red around 10.20 am. On the NSE, Ather Energy share price was down 1.33% from its listing price at ₹ 323.65, while on the BSE, the stock dipped 0.8% to ₹ 323.45. Ather Energy IPO, which was open for subscription from April 28 to April 30, witnessed a modest demand for its issue. The IPO of the electric vehicle (EV) manufacturer was subscribed 1.50 times at the end of the three-day bidding period, amid strong buying demand from retail investors and qualified institutional buyers. Meanwhile, the non-institutional investor portion wasn't fully booked. The QIB portion was subscribed 1.76 times, the NII portion 0.69 times and the retail investor portion 1.89 times. The employee portion was booked 5.43 times as of April 30. The company raised ₹ 2,981.06 crore at the upper end of the price band of ₹ 321 apiece. The IPO was a mix of fresh share sale of ₹ 2,626.30 crore and an offer for sale by promoters and other selling shareholders of ₹ 354.76 crore. Ather Energy plans to use the funds raised from the IPO's fresh issue for various purposes like capex for the establishment of an E2W factory in Maharashtra, repayment of certain corporate borrowings availed by the company, investment in R&D and for marketing initiatives or other general corporate purposes. Ather Energy is a pure-play EV company that sells E2Ws and the associated product ecosystem, comprised of its software, charging infrastructure and smart accessories. The company was founded in 2013 by Tarun Sanjay Mehta and Swapnil Babanlal Jain. It has a market share of 11.5% as of the financial year 2024 (FY24) and is the third-largest player by volume. However, despite being a prominent brand in the EV two-wheeler market, the company has consistently incurred losses since its inception. Ather, in its RHP, said that it has incurred losses since its incorporation and had stagnant revenue growth in FY24. "There is no assurance that we will be cost-effective in our operations or achieve profitability in the future," according to the company's RHP. In FY24, Ather's loss before taxes amounted to ₹ 1059.7 crore, significantly higher than ₹ 864.5 crore in FY23 and ₹ 344.1 crore in FY22. It also had stagnant revenue growth in FY24 as it posted a revenue of ₹ 1753.8 crore compared with ₹ 1780.9 crore in FY23.
