Kinetic Green to set up unit in WB
Kinetic Group-controlled Kinetic Green Energy and Power Solutions is scouting for land to set up an e-vehicles manufacturing plant in West Bengal.
Company founder and CEO Sulajja Firodia Motwani said West Bengal is very much in her growth plans and the company is scouting for land at an appropriate location for making the facility. “We have seen few locations like Kharagpur and Haldia but nothing had been finalised,” she said.
Kinetic Green has its Rs 75-crore mother plant at Ahmednager near Pune but is considering assembly plants for e-vehicles in other states too.
The group has a piece of land at Singur’s abandoned Nano site but Motwani did not elaborate on what the company plans to do with it. She said she finds a change in Bengal and the company is actively considering manufacturing here.
The company produces green mobility solutions targeted at the bottom of the pyramid like e-three wheelers. It produces a n electric three-wheeler ‘Kinetic Safar’, which has already bagged an order of Rs 400 crore from the UP government for supply of 27,000 units.
Speaking on the likely impact of GST on e-vehicles, Motwani said total tax (VAT+excise) came to around 11-12 per cent for electric three-wheelers but the clarity on tax will be knowm once the rates are announced. “We have set a target of Rs 10,000 crore turnover over the next 10 years as electric vehicles offers great opportunity in the years to come,” Motwani said.
She was speaking on the sidelines of FICCI FLO session where women leaders are invited to share their insights.
Motwani is also the vice-chairperson of Kinetic Engineering, which is into automotive components business. Though the company is expected to achieve a turnover of Rs 300 crore this financial year, it is confident towards the ambitious target.