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Awaiting price reaction for this filing.
The EV arm of Kinetic Engineering, Kinetic Watts & Volts Ltd. (KWV), has been approved under the Government of Maharashtra's Electric Vehicle Policy 2026, entitling it to an incentive of approximately ₹42 crore phased over 10 years. This benefit is linked to KWV's planned investment of around ₹70 crore in robotics-led manufacturing, battery assembly (Range-X) and localisation of components at its Ahilyanagar facility in Maharashtra. The company manufactures the Kinetic DX electric scooter with 99% Indian-made parts and has commenced sales in Pune, Mumbai, Vadodara and Surat, with national expansion expected. KWV was set up in September 2022 as a dedicated EV subsidiary of Kinetic Engineering, while parent KEL continues to supply auto components to OEMs such as Tata Motors, Mahindra, Ashok Leyland and Renault.
Positive medium- to long-term signal for KEL shareholders: a ₹42 crore phased incentive plus operational scale-up of its EV subsidiary supports future revenue and margins, though benefits are spread over a decade and execution of the EV business plan remains the key risk.