Kinetic Forays Into EV Battery Making

Mumbai: Automotive components maker Kinetic Group on Friday announced its entry in the EV battery manufacturing space with the setting up of a battery production facility in Ahmednagar in Maharashtra at an investment of Rs 50 crore.

The facility will produce 60,000 Range-X brand of batteries for two and three-wheeler EVs, the Pune-based company said. The facility will also be manufacturing both LFP (Lithium-ion Phosphate) and NMC (Nickle Manganese, Cobalt) type of batteries, it stated.

Moreover, Kinetic Group said, it also plans to supply the batteries to OEMs (original equipment manufacturers ) beyond in-house consumption. Additionally, the facility is developing prismatic cells for three-wheelers, it said. “Range-X is a result of pioneering work in batteries and a significant step towards India’s mobility transformation.

The Ahmednagar facility represents self-reliance, safety and sustainability in battery technology,” said Ajinkya Firodia, Vice Chairman and Managing Director, Kinetic Group. By integrating automation and smart technology, the facility ensures reliable, efficient and clean energy solutions, he said.

The EV market in India is expected to grow at a compounded annual growth rate of 28.52 per cent, reaching $18.319 billion by 2029, which will benefit the facility, as it is set to supply batteries for two-wheelers, the company said.