Kinetic Green aims to build $1 bn EV business by 2030; eyes global markets
In the next three years, the company is aiming to enter 25 new countries, which is 80% of the golf cart market.
- Jul 18, 2025,
- Updated Jul 18, 2025 12:53 PM IST
Kinetic Green, a two-wheeler and three-wheeler electric vehicle manufacturer, is aiming to build a one billion electric vehicle business by 2030, according to Sulajja Firodia Motwani, founder and CEO of Kinetic Green.
On Thursday, Kinetic Green unveiled electric luxury and lifestyle golf carts through its joint venture with Tonino Lamborghini SpA, fuelling its global ambition.
“We are poised to create a disruption in this segment and work towards seizing leadership globally, bringing a confident and ambitious new benchmark to markets that are ripe for revolution. For Kinetic Green, this marks the beginning of our global journey, bringing Made-in-India EVs to the world. Kinetic Green aims to build a $1 billion EV business by 2030, and this JV will play a key part in our global ambitions,” says Motwani.
The golf carts are designed by Lamborghini and manufactured by Kinetic Green.
According to Motwani, the electric golf cart is a $5 billion market globally, with annual sales of 500,000 units.
“The market is divided between golf and non-golf. And around 55% is golf, whereas 45% is non-golf. The largest markets are the USA, Europe, and Asia. This market is likely to grow $10 billion in the next 8-10 years. Though this is such an interesting segment, most of the market is fragmented. While some major players like E-Z-Go carts and Yamaha together have around 40-45% market share. More than 50% of the market has remained fragmented. Some golf carts are either coming from China or are manufactured locally. So that’s where we see the opportunity is. Secondly, golf carts have remained the same, though the use of golf carts has changed; golf carts as a segment have remained the same. So we think that we have an opportunity to disrupt the market with our products,” Motwani tells Business Today in an interaction.
Notably, in the next three years, the company is aiming to enter 25 new countries, which is 80% of the golf cart market. “Our aim for the next five years is to scale this business to about 25,000 golf carts per year, which is around $300 million,” says Motwani. For the electric golf cart project, Kinetic Green has invested close to $3 million at present.
The company initially plans to have a production capacity of 300 units monthly in its Pune facility.
Meanwhile, the company plans to become EBITDA positive by the September quarter of FY26. In the two-wheeler market, the company has electric scooters, e-Luna and Zulu, whereas Kinetic Green caters to the L3 and L5 categories in the three-wheeler market.
Kinetic Green, a two-wheeler and three-wheeler electric vehicle manufacturer, is aiming to build a one billion electric vehicle business by 2030, according to Sulajja Firodia Motwani, founder and CEO of Kinetic Green.
On Thursday, Kinetic Green unveiled electric luxury and lifestyle golf carts through its joint venture with Tonino Lamborghini SpA, fuelling its global ambition.
“We are poised to create a disruption in this segment and work towards seizing leadership globally, bringing a confident and ambitious new benchmark to markets that are ripe for revolution. For Kinetic Green, this marks the beginning of our global journey, bringing Made-in-India EVs to the world. Kinetic Green aims to build a $1 billion EV business by 2030, and this JV will play a key part in our global ambitions,” says Motwani.
The golf carts are designed by Lamborghini and manufactured by Kinetic Green.
According to Motwani, the electric golf cart is a $5 billion market globally, with annual sales of 500,000 units.
“The market is divided between golf and non-golf. And around 55% is golf, whereas 45% is non-golf. The largest markets are the USA, Europe, and Asia. This market is likely to grow $10 billion in the next 8-10 years. Though this is such an interesting segment, most of the market is fragmented. While some major players like E-Z-Go carts and Yamaha together have around 40-45% market share. More than 50% of the market has remained fragmented. Some golf carts are either coming from China or are manufactured locally. So that’s where we see the opportunity is. Secondly, golf carts have remained the same, though the use of golf carts has changed; golf carts as a segment have remained the same. So we think that we have an opportunity to disrupt the market with our products,” Motwani tells Business Today in an interaction.
Notably, in the next three years, the company is aiming to enter 25 new countries, which is 80% of the golf cart market. “Our aim for the next five years is to scale this business to about 25,000 golf carts per year, which is around $300 million,” says Motwani. For the electric golf cart project, Kinetic Green has invested close to $3 million at present.
The company initially plans to have a production capacity of 300 units monthly in its Pune facility.
Meanwhile, the company plans to become EBITDA positive by the September quarter of FY26. In the two-wheeler market, the company has electric scooters, e-Luna and Zulu, whereas Kinetic Green caters to the L3 and L5 categories in the three-wheeler market.