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Autoline Industries, Kinetic Green sign agreement for e-cycles

ANI 

Auto components manufacturer Autoline Industries and electric vehicle manufacturer Kinetic Green Energy and Power Solutions have signed an agreement for joint development and nationwide marketing of electric bicycles (e-cycles).

Under the pact, Autoline will undertake the development and manufacturing of e-cycle critical assemblies. In association with Kinetic, it has successfully developed the first two models with R & D effort over the last 18 months.

"We feel that e-cycles have the potential to make a massive impact on the micro-mobility market as well as to help improve fitness levels of our health-conscious millennials," said Shivaji Akhade, Promoter and Managing Director of Autoline Industries.

At the same time, Kinetic's vision is to bring green mobility to millions and bring a wide range of innovative yet affordable EVs to the Indian mass market, said Group Chairman Arun Firodia.

"Both the partners plan to promote the e-cycle range aggressively to promote green mobility to masses across India and in the international markets," he said.

The e-cycles will be built at Pune plant. They offer a top speed of 25 km per hour and can run 25 to 35 km on a single charge. Vehicles are equipped with advanced fast-charging lithium-ion batteries and a full charge takes three to four hours.

The battery is detachable and weighs 2.45 kg, enabling it to be carried into the home for charging on a simple domestic socket, just like a mobile phone.

Autoline has reserved manufacturing capacity to assemble 9,000 to 10,500 e-cycles per year which can be expanded to one lakh e-cycles per year with minimal capex.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, November 28 2019. 13:15 IST
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