Kinetic's EV component biz will be up to Rs 1.5K cr in 4 years: Firodia

Firodia talked about his plans for the EV-components business, and the components business at large for the group

Auto-component major Kinetic group is setting up an advanced electric vehicle (EV) battery manufacturing plant with an initial capacity of 60,000 units per annum with an investment of ₹50 crore in Ahmednagar, Maharashtra. The Range-X brand of batteries for two-wheelers and three-wheelers will be based on both LFP (lithium iron phosphate) and NMC (lithium-nickel-manganese-cobalt) technologies. Speaking to Sohini Das in a video interview, Ajinkya Firodia, vice-chairman and managing director, Kinetic group, spoke about his plans for the EV-components business, and the component business at large for the group. Edited excerpts: 

Why venture into battery business? 

Over the last four-five years,