Jitendra EV to Invest Rs 125 Crore in R&D and Manufacturing Expansion
ECONOMY & POLICY

Jitendra EV to Invest Rs 125 Crore in R&D and Manufacturing Expansion

Jitendra EV is set to direct Rs 800-1000 million towards research and development and product innovation, with Rs 250 million allocated for scaling up manufacturing. The company’s Nashik facility, which currently has an annual production capacity of 60,000 units, will expand to 96,000 units to support its growing market share.

The company has already secured seven acres of land in Nashik for future expansion, aligning with its network and sales goals. Jitendra EV also expects its monthly sales to reach 10,000-15,000 units by 2028, supported by the addition of 100 new dealerships this year, doubling its dealer network to 200 across 25 cities.

Co-Founder Samkit Shah emphasised the focus on key states like Maharashtra, Gujarat, Tamil Nadu, Uttar Pradesh, Karnataka, and Delhi, while also addressing the diverse customer needs with both high-speed and low-speed electric two-wheelers, including options for last-mile delivery in the e-commerce sector.

Jitendra EV is set to direct Rs 800-1000 million towards research and development and product innovation, with Rs 250 million allocated for scaling up manufacturing. The company’s Nashik facility, which currently has an annual production capacity of 60,000 units, will expand to 96,000 units to support its growing market share. The company has already secured seven acres of land in Nashik for future expansion, aligning with its network and sales goals. Jitendra EV also expects its monthly sales to reach 10,000-15,000 units by 2028, supported by the addition of 100 new dealerships this year, doubling its dealer network to 200 across 25 cities. Co-Founder Samkit Shah emphasised the focus on key states like Maharashtra, Gujarat, Tamil Nadu, Uttar Pradesh, Karnataka, and Delhi, while also addressing the diverse customer needs with both high-speed and low-speed electric two-wheelers, including options for last-mile delivery in the e-commerce sector.

Next Story
Infrastructure Urban

Reliance, Diehl Advance Pact for Precision-Guided Munitions

Diehl Defence CEO Helmut Rauch and Reliance Group’s Founder Chairman Anil D. Ambani have held discussions to advance their ongoing strategic partnership focused on Guided and Terminally Guided Munitions (TGM), under a cooperation agreement originally signed in 2019.This collaboration underscores Diehl Defence’s long-term commitment to the Indian market and its support for the Indian Government’s Make in India initiative. The partnership’s current emphasis is on the urgent supply of the Vulcano 155mm Precision Guided Munition system to the Indian Armed Forces.Simultaneously, the “Vulc..

Next Story
Infrastructure Urban

Modis Navnirman to Migrate to Main Board, Merge Subsidiary

Modis Navnirman Limited has announced that its Board of Directors has approved a key strategic initiative involving migration from the BSE SME platform to the Main Board of both BSE and NSE, alongside a merger with its wholly owned subsidiary, Shree Modis Navnirman Private Limited.The move to the main boards marks a major milestone in the company’s growth trajectory, reflecting its consistent financial performance, robust corporate governance, and long-term commitment to value creation. This transition will grant the company access to a broader investor base, improve market participation, en..

Next Story
Infrastructure Urban

Global Capital Flows Remain Subdued, EMEA Leads in Q1 2025

The Bharat InvITs Association’s industry update for Q1 2025 shows subdued global capital flows, with investment volumes remaining at the lower end of the five-year range despite a late 2024 recovery. According to data from Colliers and MSCI Real Capital Analytics, activity in North America declined slightly, while EMEA maintained steady levels and emerged as the top region for investment in standing assets.The EMEA region now hosts seven of the top ten cross-border capital destinations for standing assets, pushing the United States’ share of global activity below 15 per cent. Meanwhile, in..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?