Jitendra EV to invest up to ₹125 cr in 5 yrs to boost products, capacity

EV maker which showcased its Hydrix- a hybrid vehicle targetted for launch in 2028- is also looking to double its sales in the ongoing fiscal year, up from a total of 4,200 units sold in 2024-25

Electric vehicle maker Jitendra EV plans to invest up to Rs 125 crore in the next five years on research & development (R&D), product development and enhancing manufacturing capacity, its Co-Founder Samkit Shah said.

The company, which had showcased its Hydrix -- a hybrid vehicle targetted for launch in 2028 -- is also looking to double its sales in the ongoing fiscal year, up from a total of 4,200 units sold in 2024-25, Shah told PTI.

"In the next five years we are planning to invest around ₹80 crore to ₹100 crore on R&D and product development and another ₹25 crore on manufacturing," he said.

Shah said the company is focusing on both high-speed and low speed electric two-wheelers in order to address the evolving customer requirements, including those of last-mile delivery in the e-commerce segment.

On the product side, the company is developing its Hydrix, a hybrid Triquad set to launch in 2028, powered by both hydrogen and electricity with an estimated range of 400 km and a top speed of 120 km/hour.

It is also gearing up to introduce Klasoo, a high-performance electric two-wheeler for modern urban commuting later this year. It has already launched electric scooter Yunik priced at ₹1,24,083 (ex-showroom) which has an 118 km range per charge with a top speed of 72 km/hr targetting young professionals and family riders.

On the manufacturing side, Shah said the company's facility at Nashik has an installed capacity of 60,000 units per annum, which can be scaled up to 96,000 units.

Based on the company's network expansion plans and target to increase sales, the manufacturing capacity will be scaled up, Shah said, adding that Jitendra EV has already procured a seven-acre land at the Nashik itself to meet future requirements.

Asked about the sales outlook, he said, "In the next 2-3 years, by 2028, we plan to have sales of 10,000-15,000 units per month."  In 2024-25, the company sold almost 4,200 units, of which over 3,600 were low-speed and 500 were high-speed electric scooters, he said, adding, "in the financial year 2025-26 we are planning to double these two numbers."  The doubling of sales will be on the back of sales network expansion, he said, adding, "we are adding another 100 dealers this year".

Currently, the company has 100 dealers in 25 cities.

"Our key focus states are Maharashtra, Gujarat, Tamil Nadu, Uttar Pradesh, Karnataka and Delhi," he added.