Sulajja Firodia Motwani, cofounder of Kinetic Green, highlighted that the electric three-wheeler market in India is moving toward consolidation due to stricter battery regulations and reductions in government subsidies.

Despite this trend, Kinetic Green, a manufacturer of electric two- and three-wheelers, is focusing on organic growth rather than acquisitions. Instead of taking over other companies, Kinetic Green plans to collaborate with smaller players who may lack the necessary technology or network strength, as part of its growth strategy.

Kinetic Green aims to scale up its electric three-wheeler sales from an estimated 15,000 units in FY 2024-25 to 150,000 units by FY 2029-30, reflecting a tenfold increase over five years.

This growth aligns with the company's goal to capitalise on the rapid electrification occurring in the segment. The company expects that three-wheelers will contribute 30-40% of its Rs. 100 billion (US$ 1.2 billion) turnover target by the end of the decade.

Motwani emphasised that three-wheelers, crucial for both cargo and passenger transport in India's last-mile logistics, have been quick to adopt electrification.

She also pointed out that if India aims to reach 30% EV penetration by 2030, the electrification of the three-wheeler market must increase from the current 26% to 70-75%. This fits with Kinetic Green's mission of providing environmentally friendly mobility solutions for the masses.