Kinetic Watts & Volt secures a Rs 42 crore incentive as part of the Maharashtra EV policy.

Kinetic Watts & Volts Ltd. (KWV), which is the electric subsidiary company of Kinetic Engineering Limited, has received an investment of Rs 42 crore by the Government of Maharashtra under their EV policy. This investment will be further utilized in a phased manner over the period of 10 years.

The EV policy of Maharashtra is boosting EV manufacturing, as it includes capital incentives, buyer benefits, tax deductions, and various schemes which helps in increasing the local component production. KVW has recently introduced their Kinetic DX electric scooter, which is produced at Ahilyanagar, Maharashtra, with nearly all components manufactured in India. 

Kinetic Group has recently done many investments in the EV manufacturing sector. The company has specifically developed various product lines and component facilities in Maharashtra, as they are looking to localise the production and improve the quality of their production, and also reduce the supply chain dependencies. 

The Vice Chairman & Managing Director of Kinetic Watts & Volts expressed his views on this and said, “The Maharashtra EV policy is made to build a strong foundation of the domestic EV ecosystem. The policy is aligned to our strategy of robotics-focussed manufacturing and in-house battery assembly. 

This will further accelerate the localisation of EV components, and diversify the production capacity and deliver quality and cost-effective electric mobility products for Indian families at a big scale.”