Kinetic Group Enters EV Battery Market with Rs 50 Crore Ahmednagar Facility

Ahmednagar, Feb 21 (KNN) Automotive components giant Kinetic Group has officially launched its state-of-the-art battery manufacturing facility in Ahmednagar, marking a significant milestone in its foray into the electric vehicle (EV) battery market. 

The Rs 50 crore investment underscores the Group’s commitment to India’s growing EV ecosystem.

The facility, inaugurated on Thursday, will produce 60,000 high-performance battery packs annually under the brand name 'Range-X'. 

Designed specifically for two- and three-wheeler electric vehicles, the batteries aim to meet the increasing demand from original equipment manufacturers (OEMs).

The plant will manufacture both Lithium Iron Phosphate (LFP) and Nickel Manganese Cobalt (NMC) battery types, offering flexibility and advanced energy solutions for a range of EV applications. 

The LFP batteries boast a stable chemical composition, significantly reducing the risk of thermal runaway while ensuring peak performance in extreme temperatures. They also feature smart Battery Management System (BMS) integration for enhanced efficiency and longevity.

Kinetic Group emphasised the eco-conscious design of its 'Range-X' batteries, utilising non-toxic, recyclable, and ethically sourced materials, aligning with global sustainability goals. 

Additionally, the company is developing prismatic cells tailored for three-wheelers, further diversifying its product portfolio.

The NMC batteries produced at the facility promise exceptional energy density, offering longer-lasting power and a high charge-discharge rate, ensuring reliable performance even under demanding conditions.

Ajinkya Firodia, Vice Chairman and Managing Director of Kinetic Group, highlighted the strategic importance of the new facility, stating, “Range-X is a result of pioneering work in batteries and a significant step towards India's mobility transformation. 

The Ahmednagar facility represents our dedication to self-reliance, safety, and sustainability in battery technology. By integrating cutting-edge automation and smart technology, we aim to deliver efficient and clean energy solutions.”

India's EV market is projected to grow at a CAGR of 28.52%, reaching USD 18.319 billion by 2029. With increasing consumer adoption and strong government incentives, Kinetic Group’s venture into EV battery manufacturing positions it at the forefront of this booming industry.

Kinetic Engineering Limited (KEL), the flagship company of Kinetic Group, brings five decades of manufacturing expertise to this venture. 

The Ahmednagar unit employs around 1,000 staff across 32 manufacturing sheds, reinforcing the Group's longstanding industrial legacy.

(KNN Bureau)