Once more, without pedals and silently, Luna is gaining ground. The pre-liberalization era’s rickety moped, whose production ended in 2000, is making a comeback in an electric form and aims to spark competition in the market for reasonably priced electric two-wheelers.
The company stated that since its February introduction, it has sold over “5,000 units”; however, as the pedals are no longer present, the product can no longer be referred to as a moped .
Ajinkya Firodia, Managing Director of Kinetic Engineering, which provides vehicle parts to its sister company Kinetic Green, stated, “We are seeing huge demand.”
The Kinetic Group’s Luna moped, which debuted in 1972 and quickly gained popularity, painted an image of India at the time, which was gradually moving from bicycles to motorcycles. Highways were being built and roads were getting better. But Luna was unable to keep up with the advancement of technology as the years went by. As demand declined in 2000, the manufacturer discontinued producing the mopeds. The same stable also produced Kinetic Honda scooters, another trend-setter that ultimately met the same end.
However, the name and sentimentality endure. The business is confident it will be helpful. And much as in the good old days, the company thinks it can take advantage of low cost strategy.
The E-Luna brand is regarded as one of the most reasonably priced electric two-wheelers produced by an Indian manufacturer, with prices ranging from Rs 69,990 to Rs 74,990.
It’s interesting to note that Ola Electric has also announced an aggressive price for Ola S1x scooters, Rs 79,999.
Scooters hold a 99 percent market share in the two-wheeler category. Nonetheless, we have sold at least 5,000 devices and have already achieved substantial market progress. In the upcoming fiscal year, we want to sell at least 100,000 units,” Firodia stated.
He asserted that the bike offers significant cost advantages for its customers over gasoline, with a charging time of just 10 paise per kilometer.
“An e-Luna’s benefit is not only its comfort in small towns but also its load capacity. High-performance and high-speed brands are Ola and Ather. There are no significant players in the moped category. Firodia stated, “We wish to provide this value to the customers.”
Additionally, KEL finished building a Mahindra and Mahindra manufacturing facility, where it will make shafts and gears for M&M’s two-wheelers.
The plant can now produce about 30,000 gears and shafts every month thanks to upgrades. The group has a business named Kinetic Watts & Volts that focuses on electric car technologies in addition to Kinetic Green.
Working on integrated solutions, Kinetic Watts & Volts provides essential parts like batteries, controllers, and motors.
Our board recently gave the go-ahead for a possible Rs 50 crore investment in the new subsidiary. Our two-wheelers are produced at a cost that is competitive. We anticipate reaching the Rs 500 crore turnover threshold in the upcoming fiscal year, according to Firodia.
In the third quarter of the current fiscal year, the company reported a net profit of Rs 1.10 crore, which is double the profit from the same period in the previous fiscal year.
