Kinetic Green Targets $1 Billion EV Business by 2030

Kinetic Green, a manufacturer of two- and three-wheeler electric vehicles, aims to build a $1 billion electric vehicle business by 2030, said Sulajja Firodia Motwani, founder and CEO of Kinetic Green.

On Thursday, the company unveiled electric luxury and lifestyle golf carts through its joint venture with Tonino Lamborghini SpA, accelerating its global ambitions.

“We are poised to disrupt this segment and strive for global leadership, setting a confident and ambitious new benchmark in markets ready for revolution. For Kinetic Green, this marks the start of our global journey, bringing Made-in-India EVs to the world. Our goal is to build a $1 billion EV business by 2030, with this joint venture playing a key role,” Motwani said.

The golf carts are designed by Lamborghini and manufactured by Kinetic Green.

Motwani noted the global electric golf cart market is worth $5 billion, with annual sales of 500,000 units.

“The market divides into golf and non-golf segments, with roughly 55 per cent golf and 45 per cent non-golf. The largest markets are the USA, Europe, and Asia. This market is expected to grow to $10 billion in the next eight to ten years. Despite its potential, the market remains fragmented. Leading players like E-Z-Go and Yamaha hold around 40–45 per cent market share, while over 50 per cent is fragmented. Many carts come from China or are locally produced. This presents an opportunity for disruption. Although golf carts’ use has evolved, the segment has remained unchanged, giving us a chance to innovate,” Motwani told Business Today.

Kinetic Green plans to enter 25 new countries in the next three years, covering 80 per cent of the golf cart market. “Our aim is to scale to 25,000 golf carts annually within five years, representing about $300 million,” she added. The company has invested nearly $3 million in the electric golf cart project so far.

Production is initially set at 300 units per month at the Pune facility.

Meanwhile, Kinetic Green targets EBITDA positivity by the September quarter of FY26. In the two-wheeler market, it offers electric scooters e-Luna and Zulu, while in the three-wheeler space it serves the L3 and L5 categories.