Kinetic Green Tonino Lamborghini Eyes ₹2,505 Crore Annual Revenue Within 5 Years

Kinetic Green Energy and Power Solutions and Tonino Lamborghini have entered into a joint venture (JV) called Kinetic Green Tonino Lamborghini Pvt Ltd (KGTL). This JV has unveiled a new set of electric golf carts for global markets. KGTL is planning to have an annual revenue of $300 million (approx. ₹2,505 crore) in the next 5 years of operations.

KGTL plans to sell its golf carts in India and the Middle East initially, with plans to expand to New Zealand, Sri Lanka, more parts of Asia, as well as Europe and North America. KGTL has two lines of golf carts – Genesis and Prestige – and prices begin at $10,000 (approx. ₹8.61 lakh) for the former and $14,000 (approx. ₹12.05 lakh) for the latter. 

Also Read: Kinetic Green To Launch 3 New Born Electric Scooters In India

Interestingly, 50 per cent of the golf cart market volumes are sold outside of golf courses to places like airports, resorts, corporate campuses, tourism and community mobility. Currently, North America is the largest market with more than 40 per cent share of the golf cart market, followed by Latin America and Europe at 35 and 28.3 per cent, respectively. While the Asia Pacific market is only 22.2 per cent of the global market, KGTL believes it will soon overtake Europe to become the top 3 markets. The golf carts are produced at Kinetic Green’s facility in Pune and will be exported to the aforementioned markets. 

The golf carts come with a Lithium Iron Phosphate (LFP) battery, which has wireless charging capabilities and weighs 50 kg. The battery gives it a range of up to 150 km and comes with a 5-year warranty. KGTL claims the electric motors make 45 Nm and come with specialised McPherson strut suspension for better handling. It also comes with LED lighting, hill hold control, electronic parking brake and a TFT display as well as wireless phone charging. It also gets smart storage spaces, a foldable windshield and the capability to be configured for left-hand & right-hand drive.