Kinetic Secures ₹42 Crore Incentive Under Maharashtra EV Policy

Kinetic Watts & Volts Receives Major Boost from Maharashtra EV Policy

Kinetic Watts & Volts Ltd. (KWV), the dedicated electric vehicle arm of the Kinetic Group, has achieved a significant milestone by securing approval under the Government of Maharashtra’s Electric Vehicle Policy. This approval entitles the company to an incentive benefit of approximately ₹42 crore, which will be disbursed in a phased manner over the next 10 years.

The Maharashtra EV Policy is a strategic initiative designed to establish the state as a premier global hub for electric vehicle manufacturing. By offering a mix of capital-linked support, buyer incentives, and tax exemptions, the policy aims to strengthen the entire domestic EV value chain.

Driving the Return of an Icon: The Kinetic DX EV

A central part of this development is the commercial scale-up of the Kinetic DX, an electric reimagining of the iconic scooter that first transformed Indian mobility nearly forty years ago.

The Kinetic DX is a testament to the “Atmanirbhar Bharat” initiative, featuring 99% localized components. Designed from the ground up by KWV, the vehicle is produced at the company’s manufacturing facility in Ahilyanagar, Maharashtra. This high level of domestic localization was a critical factor in the company qualifying for the state incentive scheme.

Strategic Investment in Robotics and Battery Assembly

The incentive is linked to an investment of approximately ₹70 crore by the Kinetic Group. According to Mr. Ajinkya Firodia, Vice Chairman & Managing Director of Kinetic Watts & Volts Ltd., these funds will support several key strategic areas:

• Robotics-Led Manufacturing: Implementing advanced automation and robotics-enabled chassis and sub-assembly lines to enhance precision and scale.
• In-House Battery Assembly: Expanding the Range-X operations for dedicated battery assembly within their Maharashtra campuses.
• Supply Chain Resilience: Reducing dependencies on imported components by localizing critical subsystems and enhancing quality control.

Expansion and Innovative Features

KWV has already initiated its sales and service operations in major cities including Pune, Mumbai, Vadodara, and Surat, with plans to scale nationally in the near future.

The Kinetic DX EV is designed for the modern Indian family, offering class-leading 37-liter under-seat storage and a durable metal body. It also features Kinetic’s patented ‘EASY’ technology suite, which includes Easy Charge™, Easy FLIP™, and Easy key™.

Key Benefits of the Incentive Approval

• Financial Support: ₹42 crore in incentives realized over a 10-year period.
• Localisation Gains: Accelerates the production of EVs with 99% Indian-made parts.
• Infrastructure Growth: Supports the expansion of an 87,000 sq. ft. state-of-the-art manufacturing facility.
• Economic Impact: Strengthens the local supply chain and creates a more resilient EV ecosystem in Maharashtra.

Frequently Asked Questions

What is the total incentive amount approved for Kinetic Watts & Volts? Kinetic Watts & Volts Ltd. is entitled to receive approximately ₹42 crore under the Maharashtra EV Policy.

How long is the incentive period? The benefit is designed to be realized in a phased manner over a period of 10 years.

Where are the Kinetic DX electric scooters manufactured? The vehicles are produced in Ahilyanagar, Maharashtra, at a facility that utilizes 99% Indian-sourced components.

What are the unique features of the Kinetic DX EV? The scooter features a strong metal body, 37 liters of under-seat storage, and patented features like Easy Charge™, Easy FLIP™, and Easy key™.

Who leads Kinetic Watts & Volts Ltd.? The company is led by Vice Chairman & Managing Director Ajinkya Firodia and is a subsidiary of Kinetic Engineering Limited.

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