Tonino Lamborghini SPA and Kinetic Group have signed a Memorandum of Understanding to set up a new joint venture company in India for design and manufacture of premium golf carts and other electric off-road vehicles.
Tonino Lamborghini is the son of Ferruccio Lamborghini, the founder of Automobili Lamborghini. Tonino is in the business of luxury watches, eyewear, leather goods, accessories, and even in the food & beverages.
The products will use “Tonino Lamborghini” brand name. However, both Kinetic and Tonino have to sort out few more things of the JV, including shareholding and investment. If the talks work out, they may even start local manufacturing of electric cars and bikes.
Both companies are looking at the global market as the golf carts fall under a niche category in India with just a couple of thousands of sales annually. According to Kinetic Green, a Kinetic Group company, about 300,000 units of golf carts are sold worldwide every year.
On a lighter note, this was the Lamborghini that was looking to set up a manufacturing base in India for electric mobility solutions, and last week, a hurried news agency thought it was the sports car maker from Sant’Agata Bolognese.