Kinetic Watts & Volts Ltd., the electric vehicle subsidiary of Kinetic Group, has been approved for an incentive benefit of approximately ₹42 crore under the Maharashtra Electric Vehicle Policy. The incentive will be disbursed in phases over a 10-year period.
The approval supports the company's investments in robotics-led manufacturing, battery assembly operations, and component localisation at its production facilities in Maharashtra. The policy aims to position the state as a leading EV manufacturing hub through capital-linked support, tax exemptions, and component manufacturing provisions.
Kinetic Watts & Volts recently entered the electric two-wheeler market with the Kinetic DX EV, manufactured at its facility in Ahilyanagar, Maharashtra. The company states that 99% of the vehicle's components are sourced domestically, which it cites as a key factor in qualifying for the scheme.
Ajinkya Firodia, Vice Chairman and Managing Director of Kinetic Watts & Volts Ltd., said the incentive, linked to the company's investment of around ₹70 crore, will support its manufacturing strategy and help accelerate localisation and production capacity expansion.
The Kinetic DX EV features patented technologies including Easy Charge, Easy FLIP, and Easy key systems, along with 37 litres of under-seat storage. The company has launched sales and service operations in Pune, Mumbai, Vadodara, and Surat, with plans for national expansion.
Funds from the subsidy will be directed toward expanding production of the Kinetic DX EV range, battery assembly operations, and robotics-enabled manufacturing lines at the company's Maharashtra facilities.
Established in September 2022, Kinetic Watts & Volts operates an 87,000 square foot manufacturing facility. Its parent company, Kinetic Engineering Limited, has been in India's automotive manufacturing sector for over 50 years and supplies components to major OEMs including Tata Motors, Mahindra & Mahindra, and Ashok Leyland.