EV firm Kinetic Green raises $25 million from Greater Pacific Capital

EV maker Kinetic Green has raised $25 million in funding from Greater Pacific Capital (GPC), a global private equity firm. The investment is part of an ongoing Series A round, where the EV maker aims to raise up to $40 million. 

Kinetic Green plans to use the raised capital to scale up production at its manufacturing facility in Supa, Maharashtra.

Additionally, the company plans to invest in the marketing and distribution of its current product lineup, which includes the recently launched E-Luna. A portion of the funds will also be allocated to research and development for new products.

Focus on market expansion

Kinetic Green, which entered the EV market in 2016, has established itself as a key player in India’s rapidly growing EV sector.

The company is actively working on expanding its dealership network and aims to sell over 100,000 electric vehicles in the upcoming year.

Alongside domestic growth, Kinetic Green is also setting its sights on international markets, particularly through the introduction of a premium golf cart range.

The new product line is being developed in partnership with the Lamborghini family of Italy, showcasing Kinetic Green’s ambitions to make a global impact.

Leadership comments

Sulajja Firodia Motwani, Founder and CEO of Kinetic Green, said, “The partnership with Greater Pacific Capital marks a pivotal moment for Kinetic Green. Our mission has always been to lead the transition to sustainable mobility and make electric vehicles accessible to a broader audience. This investment will enable us to enhance our capabilities, drive zero-emission transportation, and contribute significantly to India’s energy transition goals. As India moves towards its 2030 EV targets, Kinetic Green is well-positioned to be a key driver in this transformation.”

Ketan Patel, Founder and CEO of GPC, said, “India’s successful energy transition is critical for the world to meet its Net Zero objectives, and as the country scales into the third-largest economy globally in the next 4-5 years, and its middle class rapidly expands, the electrification of transport will be a crucial element of this transition. The Kinetic Group has been at the forefront of innovation in India’s automotive sector for the last 50 years, and with Kinetic Green and products such as the E-Luna, is well positioned to provide innovative and aspirational electric vehicles to India’s large, young, and growing population. We are excited to partner with Kinetic Green to help them rapidly scale their business across the country and help drive India’s energy transition forward.”