EXCLUSIVE: Kinetic Green gets ₹400 crore contract under Maharashtra’s pink e-rickshaw program

The Maharashtra government has awarded a ₹400 crore contract to Pune-based Kinetic Green Energy Power Solutions as part of its entrepreneurship development program aimed at empowering women. The initiative will provide 10,000 pink e-rickshaws for women drivers across eight cities in the state, including Pune, Nashik, Nagpur, Ahmednagar, Solapur, Kolhapur, and Sambhajinagar.

The state government's Letter of Intent (LoI) with Kinetic Green assigns 4,000 e-rickshaws to Pune, 1,000 to Nashik, 2,000 to Nagpur, and 600 to each of the other cities. The e-rickshaws must meet the standards established by the Ministry of Heavy Industries' testing agency Automotive Research Association of India. Each e-rickshaw, priced at 3,73,003 rupees, will include ecosystem  support from Kinetic Green, including charging stations, according to the LoI.

This decision comes just before the model code of conduct comes into effect, as the state prepares for elections on Nov 20, 2024. Kinetic Green was chosen as the lowest bidder for the project.

According to the pink e-rickshaw scheme announced by the Maharashtra government in this year's state budget presentation, all unemployed women will receive up to a 20% subsidy when purchasing pink e-rickshaws. Through this scheme, eligible women can buy e-rickshaws by paying only 10% of the total cost initially.

In India, the e-two-wheeler segment is the largest in terms of volumes but e-three-wheelers are witnessing the fastest shift to electric mobility. A total of 105,478 three-wheelers spanning CNG, LPG, petrol and electric powertrains were sold in August this year. At 60,714 units, e-three-wheelers comprised 57% of that total, which means every second unit was an EV in the three-wheeler segment.

Out of the total EVs sold in August 2024, e-three-wheelers accounted for 39%.