Global private equity firm Greater Pacific Capital (GPC) has provided $25 million in capital to electric vehicle manufacturer Kinetic Green. The investment is a part of the EV manufacturer's current Series A round, which intends to raise up to $40 million.
With the money it has raised, Kinetic Green intends to expand its manufacturing operation in Supa, Maharashtra, by increasing output.
The business also intends to make investments in the promotion and distribution of its present range of products, which includes the just-released E-Luna. A part of the money will also go towards developing new items through research and development.
After joining the EV market in 2016, Kinetic Green has made a name for itself as a major force in India's quickly expanding EV industry.
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The company hopes to sell over 100,000 electric vehicles in the next year and is actively striving to grow its network of dealerships.
In addition to expanding domestically, Kinetic Green has its sights set on foreign markets, especially with the launch of a high-end golf cart line.
Sulajja Firodia Motwani, Founder and CEO, 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.”
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