E-Luna, a modern rendition of the iconic Luna moped, is swiftly gaining traction in the electric vehicle (EV) two-wheeler market. Priced affordably between Rs 69,990 and Rs 74,990, this electric variant is revitalising nostalgia while targeting the burgeoning demand for eco-friendly transportation options.
Once a staple of Indian roads, Luna mopeds ceased production in 2000, but their legacy lives on with the introduction of E-Luna. Since its launch in February, over 5,000 units have been sold, marking a promising return to prominence for this beloved brand.
Under the stewardship of Ajinkya Firodia, Managing Director of Kinetic Engineering, the Firodia Group aims to sell 100,000 units of E-Luna by 2024-25. Leveraging nostalgia and a low-cost strategy, the company seeks to capitalise on the market’s demand for affordable electric two-wheelers.
Competitive Landscape
In a market dominated by scooters, E-Luna stands out with its competitive pricing and operational efficiency. Charging at only 10 paise per kilometre, it offers significant savings compared to petrol vehicles. Despite competitors like Ola Electric, E-Luna’s focus on load capacity and usability in small towns sets it apart.
Expansion and Investment
Kinetic Engineering’s subsidiary, Kinetic Watts & Volts, is spearheading electric vehicle technology, with investments of up to Rs 50 crore approved for future growth. The company’s robust manufacturing capabilities and competitive production costs position it for substantial growth, aiming to achieve a turnover of Rs 500 crore in the upcoming fiscal year.
With a net profit of Rs 1.10 crore during the third quarter of the current fiscal year, Kinetic Engineering demonstrates resilience and profitability in the evolving EV market.
As E-Luna redefines the narrative of electric mobility in India, it not only resurrects a cherished brand but also exemplifies the potential for innovation and sustainability in the automotive industry. With ambitious targets and strategic investments, Kinetic Engineering is poised to lead the charge towards a greener, more accessible future for urban commuters across the country.
