India's Kinetic Green and Italy's Tonino Lamborghini have unveiled a new range of luxury electric golf and lifestyle carts, starting at USD 10,000 (Rs 8.61 lakh), for the global markets under their joint venture (JV), Kinetic Green Tonino Lamborghini.
While the electric carts have been designed in Italy, they are being manufactured in India at Kinetic Green's integrated manufacturing facility near Pune.
Kinetic Green manufactures electric two-wheelers and three-wheelers. Tonino Lamborghini's business interests span across electric carts, furniture and lifestyle accessories, watches, cafes, real estate and hospitality.
The new electric carts will be marketed globally under the Tonino Lamborghini brand. These electric carts are not only expected to be used at golf courses, but also at luxury resorts and hotels, private estates, gated communities, airports, corporate campuses, large recreational properties and industrial facilities.
The golf cart segment is valued at USD 5 billion globally. Among the top markets are North America (40.3% share), Europe (28.3%), the Asia-Pacific region (22.2%), and West Asia (5.4%).
According to Kinetic Green Founder and CEO Dr Sulajja Firodia Motwani, the golf cart market is expected to double in size to around USD 10 billion over the next 10 years.
Motwani said that Kinetic Green Tonino Lamborghini will initially start operations in Asian markets, including India, the UAE and the Maldives, followed by Europe, the USA and Canada. The third expansion phase will see the company entering China, Japan and select Latin American countries.
Kinetic Green Tonino Lamborghini is aiming to be present in 30 countries, representing 80% of the global golf cart market in the next five years. "We are targeting an annual revenue goal of USD 300 million within five years," Motwani said.
The new electric carts will be available across two-seater, four-seater, six-seater and eight-seater configurations in Genesis and Prestige trims. The starting price is USD 10,000 (Rs 8.61 lakh) for the Genesis range and USD 14,000 (Rs 12.06 lakh) for the Prestige range.
Powered by a lithium-ion battery, which is mated to a 45 Nm motor, the new electric carts get MacPherson suspension for added comfort. The claimed range is 150 km on a single full charge. The wireless battery charging system is claimed to have a 10-year life.
Depending on the market, the Tonino Lamborghini electric carts can be had in right-hand-drive and left-hand-drive configurations. Among the noteworthy features are LED headlights, TFT dashboard, hill hold, electronic parking brake, wireless charger, dedicated golf bag holder, caddie stand and foldable windshield.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
