Kinetic Green Energy and Power Solutions Limited, Pune ("Kinetic"), leading Electric Vehicle manufacturer in India and Autoline Industries Ltd. (Autoline), a leading auto components manufacturer have signed an agreement for joint development and nationwide marketing of electric-bicycles ("E-Cycle").
Under the alliance, Autoline will undertake the development of the E-cycle critical assemblies with almost 100% indigenous content. Autoline in association with Kinetic Green has successfully developed their first 2 models of E-Cycles named as "E-Speed" with in depth R&D over the last 18 months. Both the models will be available at a price of INR 24999. Kinetic, which is already a well-established player in not just the automotive market but also in Electric vehicles, will aggressively market the range nationally, through its PAN India dealership network. These "E-Speed" will be available for the customers in the Indian market by 1st December 2019. With the help of Kinetic Green's strong dealership network spread across 150 cities, the aim is to promote these e-Cycles across India.
Autoline will utilise its existing capacity to manufacture the E-Cycles. At present, Autoline has a capacity to assemble 1,000 E-Cycles per month which can be expanded up to 10,000 E-Cycles per month. Initially, Kinetic and Autoline will introduce E-Cycles in two variants and will later introduce more models as per market demand.
The "E- Speed" will be built at Autoline Industries' Pune plant and are built on the Make in India principle. They offer a top speed of 25 kmph and can run 30 km on a single charge. Vehicles are equipped with Lithium ion batteries and it takes only 3 hours to fully charge the batteries. The battery is detachable and light weight, enabling it to be carried home for charging on a simple domestic socket, just like a mobile phone. The vehicle works on a an electric - assist principal, thereby the riders can either choose to pedal the bicycle, for exercise/on slopes or to save battery or they can have fun ride by using the electric powertrain. The vehicles are easy to use and are suitable for both male and female customers. The "E-Speed" can be useful for customers like students in urban or rural areas, courier deliveries, short distance delivery needs, hotels and resorts, large Industrial Campuses, Gated Communities etc.
Within the Automotive space, Electric vehicles (EV) segment is witnessing rapid evolution due to their intrinsic benefits of zero pollution and low running cost, and this is further accelerated due to Government support, as well as increasing awareness among the consumers of the adverse impact of ever increasing pollution on health. Indian Government has set ambitious targets to transform India's automotive sector with accelerated electrification especially with a focus on two-wheelers, three-wheelers and public transport, to bring the benefits of green mobility to the masses.
Speaking at the occasion, Arun Firodia, Chairman, Kinetic Group said, "Kinetic's vision is to bring green mobility to millions and bring a wide range of innovative yet affordable EVs to the Indian mass market. We strongly believe that in a developing nation such as ourselves, the social impact of a new technology can be beneficial only if it is brought within the reach of the common man, just like impact made by Kinetic Luna or Kinetic Honda. Only then, its benefits can reach the society at large. Currently, the Government's FAME II scheme does not have special support package for E-cycles but we will request them to extend support to this segment.
Commenting on the announcement, Shivaji Akhade, Promoter and Managing Director, Autoline Industries said "This is a part of our Company's strategy of exploring various business opportunities in the challenging business environment to prepare ourselves for the future. At Autoline, we believe in innovation &utilization of the latest technology. The E-Cycle initiative also forms a part of our company's humble contribution towards Green-Earth initiatives. 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!"
END
