Pune based Kinetic Group’s company Kinetic Green Energy & Power Solutions Ltd signed a MOU (Memorandum of Understanding) with the highly admired and globally recognized luxury brand Tonino Lamborghini to jointly set up a new joint venture company in India (in state of Maharashtra) for design and manufacture of premium segment golf carts and other electric off-road vehicles.
Under the MOU, Lamborghini Family will also provide the “Tonino Lamborghini” brand license to the JV and both the companies will leverage the existing network and marketing channels to promote and market the joint venture products in India and globally.
The new JV will leverage Kinetic Green’s existing R&D as well as manufacturing facilities located in Ahmednagar district of Maharashtra where the company manufactures various electric vehicles and holds a leading position in electric three-wheeler business in India.
Kinetic Green and Tonino Lamborghini group will discuss and finalize the further terms and condition of JV including shareholding percentage, investments, JV scope, business plan and other commercial terms during the next 90 days and finalize the definitive agreements.
Kinetic Green is the youngest company of 600 Million USD Firodia group with a vision to bring green mobility solutions with well-engineered quality products for millions. Pioneered in the field of green mobility in India with well-developed R&D centre and manufacturing facility, company aims to provides green mobility solutions not only in India but globally. A name synonymous with trust and reliability, Kinetic has reach legacy of over four decades and has established itself as an innovative and progressive company.