Kinetic Engineering Ltd (KEL Commences Production of Chassis and Other Assemblies for the Electric Avatar of the Luna

#ELuna #KineticEngineeringLimited #ElectricLuna #AjinkyaFirodia

“We expect this business to add over Rs.30 crore annually over the next 2-3 years as the volumes of the E-Luna increase. This will also help KEL to boost its presence in the EV segment. KEL is emerging as a one stop shop for all the major mechanical subassemblies for electric 2 & 3 wheelers, which have witnessed explosive growth over the past 12 months.” Ajinkya Firodia, MD, Kinetic Engineering Limited

January 2023: Kinetic Engineering Ltd (KEL has commenced production of chassis and other assemblies for the Electric Avatar of the Luna. Exactly 50 years ago, Kinetic Engineering Limited created automobile history by launching the Luna – priced that time at Rs. 2000 which made it the most efficient, affordable, convenient transportation solution to India. A revolutionary product then, the Luna captured the imagination of men & women alike, and ramped up to a sales of 2000 vehicles per day, commanding a 95 percent market share in the moped category at its peak. Winning the hearts across India, and being unique in its offering, the Luna remains one of the most cherished brands that India has seen.

The E-Luna will be launched shortly by its sister company Kinetic Green Energy & Power Solutions Ltd. KEL has developed all the major subassemblies for the E-Luna including the main chassis, main stand, side stand and swing arm and has set up a dedicated production line with an initial capacity of 5000 sets per month – just at the helm. With a growing electric market segment, and a preference towards load carrying vehicles, the E-Luna once again aims to check all the boxes with its offerings. The welding for these critical & various parts will be done through a brand-new line of over 30 welding machines set up in an exclusive shop within the plant. All the assemblies will be fully finished, duly painted in its vast factory at Ahmednagar. To meet the requirements, KEL has also invested over Rs 3 crores in upgrading its paint shop and press & fabrication shops. The parts for E-Luna shall add significantly to KEL’s topline at about Rs. 30 crore annual estimation, beginning first quarter next year.

Ajinkya Firodia, MD, Kinetic Engineering Limited, said “It is amazing that the iconic Luna is coming back in its E-Avatar! We are very proud to be making all the major subassemblies of the same and be a part of this legacy! At its peak Luna was selling over 2000 units per day. I am sure it will do very well in its new avatar. We expect this business to add over Rs. 30 crore annually over the next 2-3 years as the volumes of the E-Luna increase. This will also help KEL to boost its presence in the EV segment. KEL is emerging as a one stop shop for all the major mechanical subassemblies for electric 2 & 3 wheelers, which have witnessed explosive growth over the past 12 months.”

About Kinetic Engineering Limited: Kinetic Engineering Limited is the flagship company of the Kinetic Group with five decades of manufacturing experience. The Pune based company, which has been in the industry for over five decades, has been a pioneer in the automotive industry. The company’s manufacturing unit in Ahmednagar is spread over 70 acres and has over 800 employees, 32 manufacturing sheds and more than 400 machines. All of KEL’s products are IATF 16949 certified. The company, which is headquartered in Pune manufactures about 100 different auto components and stands by its vision of ‘Kinetic in every automobile’. KEL’s esteemed customer list includes Renault, American Axle, TATA Motors, Mahindra & Mahindra, Ashok Leyland, Magna Powertrain, Bombardier Recreational products, and many others. It has a large manufacturing plant in Ahmednagar, while its corporate office is based in Chinchwad, Pune. Kinetic Engineering Limited stock is quoted on the BSE: 500240.

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