Kinetic & Tonino Lamborghini target Rs 500-crore from off-road EVs

Kinetic & Tonino Lamborghini

Kinetic Green Energy & Power Solutions and Tonino Lamborghini of Italy have entered into a 75:25 joint venture to design and manufacture premium electric and solar golf carts for the global market under the Tonino Lamborghini brand.

Tonino Lamborghini Company will license the ‘Tonino Lamborghini’ exclusively to the joint venture for the worldwide market for the manufacturing of golf carts and any other products the partners agree to jointly develop for 10 years.

According to a Financial Express report, for now, the focus will be the off-road electric vehicles but the venture could in future look at quadricycles and electric two-wheelers.

Sulajja Firodia Motwani, founder and CEO of Kinetic Green Energy & Power Solutions, said, both partners are working out the details of the project and decide the investments needed.

The joint venture will be an asset light model and use Kinetic Green’s existing R&D as well as manufacturing facilities in Ahmednagar and carry out contract manufacturing for the joint venture.

Image credit : images.financialexpress.com

Author: Research Desk