Kinetic Green and Tonino Lamborghini Join Forces to Electrify the Global Cart Market

In an ambitious move, Kinetic Green has partnered with Italy's Tonino Lamborghini to introduce an innovative line of electric carts aimed at capturing a significant share of the global market. The joint venture, named Kinetic Green Tonino Lamborghini (KGTL), envisions a $1 billion turnover within the next decade.

The Pune-based electric vehicle manufacturer, Kinetic Green, will hold a 70% stake in the partnership, while the Italian design powerhouse, Tonino Lamborghini, will hold the remaining 30%. Kinetic Green CEO Sulajja Firodia Motwani revealed that the joint venture aims to secure a 10% market share in the electric cart sector, which is projected to grow from $5 billion to $10 billion over the next ten years.

With a robust business plan, KGTL aims to achieve a $300 million topline in five years by entering 25-30 global markets, including the US, Europe, and Asia. Electric carts will be produced at Kinetic Green's facility in Pune, with plans to scale up production and possibly establish local assembly units, depending on market demand and customs duties.

(With inputs from agencies.)