As part of its ambitious growth strategy, Kinetic Green Ventures, a prominent electric car manufacturer in India, has announced its foray into the battery manufacturing business. By 2029, the company hopes to become a significant participant in the industry and will have invested INR 10,000 crores.
Kinetic Green wants to tackle one of the main issues facing the electric car sector, which is the high cost of batteries, by going into the battery production business. Since batteries are the most expensive part of an electric car, Kinetic Green will be able to lower expenses and increase the affordability of its electric vehicles by producing them internally.
Making batteries in-house is a calculated strategic decision that will increase Kinetic Green’s control over the supply chain and guarantee a consistent and dependable supply of batteries for its electric cars. This action is also consistent with the business’s goal of sustainability and carbon footprint reduction. Producing its batteries will provide Kinetic Green Ventures more control over where its raw materials come from and allow it to use greener manufacturing techniques.
In terms of innovation and technical developments, Kinetic Green’s foray into the battery manufacturing industry also offers new prospects. The corporation may increase the performance and range of its electric vehicles by spending on research and development to create more sophisticated and efficient batteries.
A major step towards solidifying Kinetic Green’s position in the market is its entry into the battery production business, given the growing demand for electric vehicles in India and globally. The company is well-positioned to benefit from the rising demand for clean and environmentally friendly transportation options because of its dedication to manufacturing high-quality electric vehicles at a competitive price point and emphasis on sustainability.
FAQ:
- for what reason is Kinetic Green Ventures joining the battery production sector?
By producing its batteries, Kinetic Green hopes to lower expenses and increase the affordability of its electric vehicles by addressing the high cost of batteries in the electric vehicle market.
- What are Kinetic Green’s advantages from producing batteries in-house?
– Internal battery production enables more ecologically friendly procedures, guarantees a consistent and dependable supply of batteries, and offers Kinetic Green more control over the supply chain.
- How does Kinetic Green Ventures intend to lead the way in battery production innovation?
– Kinetic Green Ventures intends to make research and development investments to create batteries that are more sophisticated and efficient, which will improve the functionality and range of its electric cars.