A new electric version of the Kinetic Luna, a moped that rose to fame in the 1970s and 1980s, has been brought back to life. Kinetic Green Energy and Power Solutions unveiled the model shortly after e-Luna reservations opened, with the X1 trim costing Rs 69,990 and the X2 trim costing Rs 74,990 (both prices are ex-showroom Delhi and are introductory deals).
The e-Luna is positioned to capitalize on the iconic legacy of the Luna brand, which conveys a richness of memories and positive sentiment, according to Kinetic Green Founder and CEO Sulajja Firodia Motwani.
According to Motwani, the e-Luna is a unique and inventive product that delivers exceptional value at a competitive price, making it just as influential as the brand. She thinks the product has come at the ideal moment. Furthermore, Motwani stated that there has been a lot of interest in the e-Luna already, with about 50,000 units reserved by B2B clients and an additional 30,000 queries from B2C clients.
With the release of the electric Luna moped, Kinetic Green is planning to expand internationally amidst the boom in e-commerce and the rising need for gig workers for last-mile deliveries in developing markets. Based in Pune, the company expressed confidence in the future growth potential of both its EV business and the growing revenue streams of its group companies.
With the popular Luna brand, Kinetic hopes to resurrect its market share in the country. It plans to export
to Vietnam, Malaysia, Thailand, and other African countries, with an annual sales target of one lakh. Though these markets are still in their infancy, Kinetic may decide to locate assembly bases there as they grow.
Though additional information has not been released, the business is presently seeking Rs 250 crore in Series A finance to support its ambitious electric vehicle efforts. When its new production line in Supa, Maharashtra, fully comes online in March 2024—capable of producing one lakh electric scooters a year—the final funding announcement is anticipated.
With a monthly cost of ownership of about Rs 2,300, Kinetic plans to target consumers in the Rs 25–30,000 income range in Tier 2 and Tier 3 regions with a targeted marketing effort for the Luna. Furthermore, Motwani reaffirmed intentions to launch a step-through bike in Southeast Asia by the end of 2024. Similar to the Kinetic Honda era, Motwani is optimistic that the electric Luna will contribute to Kinetic’s rise to prominence in the market.
Motwani emphasized how the group worked together to design the new Luna, with several Kinetic divisions producing parts including the controller cluster converter, gearbox, motors, and chassis. This illustrates the group’s resilience and strength after going through a reorganization.
Kinetic intends to increase its dealership network from the existing 300–350 to 500 by September and then to 1,000 within the following two years. Kinetic wants to invest Rs 100 crore in Luna over the course of the next year. Over the following five years, Kinetic Green also intends to establish a new manufacturing facility, introduce additional electric two-wheelers, and hit the one million unit production mark.
