Kinetic Watts & Volts Gets ₹42 Crore Incentive Under Maharashtra EV Policy

Kinetic Watts & Volts has secured a ₹42 crore incentive under the Maharashtra EV Policy, a move aimed at strengthening local electric vehicle manufacturing in India. The Pune-based EV manufacturer will receive the incentive in phases over a 10-year period.

₹42 Crore EV Incentive and Manufacturing Expansion

The approval supports the company’s investment in robotics-led manufacturing, battery assembly operations and component localisation at its Maharashtra facilities. The incentive is linked to an investment of around ₹70 crore, according to the company.

The Maharashtra EV Policy focuses on building the state as a major EV manufacturing hub through capital support, tax benefits and localisation incentives. Kinetic says the funding will help accelerate production capacity and localisation efforts.

Kinetic DX EV Plans and Company Background

Kinetic Watts & Volts recently entered the electric two-wheeler segment with the Kinetic DX EV, produced at its Ahilyanagar facility. The company claims 99% domestic sourcing of components, which helped qualify for the incentive scheme.

The DX EV features patented Easy Charge, Easy FLIP and Easy key systems, along with 37 litres of under-seat storage. Sales and service operations are currently active in Pune, Mumbai, Vadodara and Surat, with plans for broader national expansion.

Established in September 2022, the company operates an 87,000 sq ft manufacturing facility. Its parent firm, Kinetic Engineering Limited, has over 50 years of experience supplying components to OEMs like Tata Motors, Mahindra & Mahindra and Ashok Leyland.

The incentive is expected to support continued expansion of EV production and manufacturing capabilities in Maharashtra.