Mumbai, Feb. 10 -- Pune-based Kinetic Watts & Volts (KWV), the electric vehicle division of the Kinetic Group, has received approval for incentives totalling approximately INR 420 million under the Government of Maharashtra's Electric Vehicle Policy. The benefits will be realised in phases over a 10-year period.

The state policy provides capital-linked support, tax exemptions and incentives for component manufacturing to establish Maharashtra as a hub for electric vehicle production.

The qualification for the scheme was based on the company's localisation efforts for its Kinetic DX electric scooter. Designed from the ground up, 99 percent of the vehicle's components are tooled and sourced within India. At present, the company is manufac...