Friday, 1 May 2020

Kinetic postpones 70 Cr investment plan

1/5/2020

PUNE: Kinetic Green Energy and Power Solutions Ltd. (Kinetic Green), a Pune-based leading electric three-wheel manufacturer, has postponed its planned capital expenditure of Rs 70 crore following the COVID-19 pandemic.

“We had planned to invest about Rs 35-40 crore in research and development and Rs 35-40 crore in manufacturing. We will be pushing back or postponing the same by a few months,” said Sulajja Firodia, founder and CEO, Kinetic Green. “Out of the Rs 70 crore, we have identified a priority capex of about Rs 5 crore over the next three to four months.

“This is mainly to complete the development of and launch a half-a-tonne capacity cargo vehicle E3W for e-commerce, FMCG and gas cylinder delivery,” she said. She also said the auto sector may take six to nine months to recover from the impact of COVID-19. “Everyone needs mobility. The recovery of the automobile sector will take six to 12 months. Electric vehicle sector is progressing and we have the first mover advantage. It will see a V-shape recovery in six to nine months,” she added.

Recently, Kinetic Green launched a range of green solutions to disinfect indoor and outdoor areas and create a germ-free and healthy environment. The new offerings are Kinetic e-fogger and e-sprayer range for disinfecting outdoor areas such as public places, slums, large industrial campuses, hospitals, factories and residential townships. The company also unveiled a portable UV sanitizer, suitable for disinfecting indoor areas such as hospital rooms and offices.

The water-based fogging solution is mounted on a Kinetic Safar electric three-wheeler. It can be operated by a single person even on the move. The company is propagating cold fogging instead of thermal fogging as it is also cost effective. “It is an extension of our product line. It is innovative and also, a timely solution. Currently, it is being tested in Pune. We will take it across the nation soon. Next month, the company plans to produce 200 units of Kinetic Safar fitted with foggers or sprayers. The production will be ramped up based on demand,” she said.

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