Kinetic Group Invests ₹50 Crore in Maharashtra EV Battery Plant

22 Feb 2025 , 10:00 PM

Kinetic Group has inaugurated its first battery manufacturing facility in Ahmednagar, Maharashtra, on February 21, 2025. The company has laid out an investment of ₹50 crore in the plant, and it has forayed into electric vehicle (EV) battery segment.

Under the Range-X brand, it will manufacture high-performance battery packs for two-wheelers and three-wheelers. They manufacture both Lithium Iron Phosphate (LFP) and Nickel Manganese Cobalt (NMC) batteries here with an annual production capacity of 60,000 battery packs. Further to this, Kinetic’s battery solutions are designed to use them versatility and can be specified by other OEMs, not limited to Kinetic brands.

At a CAGR of 28.52%, India’s EV market is expected to account for a market value of $18.3 billion by 2029. The company expects rising demand from the two-wheeler segment, with additional focus on prismatic cell development for three-wheelers. It incorporates automation and smart technology to deliver efficient, reliable, and clean energy solutions.

Ajinkya Firodia, Vice Chairman & MD of Kinetic Group said the company has been investing more on EVs and this facility will further strengthen its presence in the sector. Through this expanded portfolio, the company says it is poised to fast track India’s move to sustainable mobility solutions while strengthening its presence in the auto and EV component space.