“Small EV Companies Can Succeed,” Jitendra EV Shares His Thoughts

Discover how small EV players in India are thriving despite market challenges. Learn from Jitendra EV’s innovative approach to carving out market share in the competitive electric vehicles landscape.

The David vs. Goliath Battle in India’s Electric Vehicle Market

In a market where giants cast long shadows, small EV players in India are proving that size isn’t everything. With over 220 original equipment manufacturers (OEMs) in the e-two-wheeler sector alone, India’s electric vehicle landscape is both crowded and promising. Yet, a striking statistic reveals the challenge: the top four players control approximately 80% of the market share, leaving the remaining 20% to be divided among hundreds of smaller manufacturers.

But can these smaller players survive? The story of Jitendra EV suggests they can do more than just survive—they can thrive.

“The Indian market is big enough for everyone to grow,” says Samkit Shah, CEO of Jitendra New EV Tech Pvt Ltd. Based in Nashik, this company exemplifies how smaller manufacturers are carving out their niche in India’s electric mobility revolution.

Electric Vehicles India: Market Overview and Opportunities

The Electric Vehicles India market is experiencing unprecedented growth, driven by government initiatives, rising fuel costs, and increasing environmental awareness. Industry experts project that by 2030, electric vehicles could capture 30% of India’s total vehicle market.

For small EV manufacturers, this expanding market presents both challenges and opportunities. While competing with established players requires significant resources, the sheer size of the Indian market means that even capturing a small percentage can translate to substantial sales volumes.

Current Market Dynamics

Source: Industry data analysis, FY2024-25

The above table reveals an interesting trend: while small EV players in India collectively hold a smaller market share, they’re growing at a faster rate than the industry giants. This suggests that agility and innovation might be winning against sheer size and resources.

Jitendra EV: A Small Player with Big Ambitions

Jitendra EV has set ambitious targets to increase its market share to 5% by FY2026, with further growth to 10-12% by 2030. Currently selling approximately 800 units monthly, the company aims to boost this figure to 1,200 units in the coming fiscal year.

What makes this small manufacturer believe it can compete with industry giants? The answer lies in a multi-faceted strategy that leverages the unique advantages of being a smaller, more agile player.

“We understand that we cannot compete with the big players on every front,” Shah explains. “Instead, we focus on areas where we can excel—product diversification, localization, and superior after-sales service.”

Product Portfolio That Speaks to Different Needs

The diverse product portfolio of Jitendra EV includes scooters targeting different customer segments, demonstrating the company’s understanding of market segmentation:

This targeted approach allows Jitendra EV to address specific customer needs rather than attempting to create a one-size-fits-all solution.

Electric Two-Wheelers India: The Battleground for Innovation

The market for Electric Two-Wheelers India is expected to grow at a CAGR of 44% until 2030, making it the most competitive segment in the EV space. Small EV manufacturers are finding innovative ways to stand out in this crowded field.

Jitendra EV’s approach to innovation extends beyond their current product line. The company is developing electric motorcycles and even exploring a trike vehicle with hydrogen fuel cell technology—ventures that larger companies might consider too niche or experimental.

“Innovation is our strongest weapon,” Shah notes. “We can take risks that bigger companies might avoid due to shareholder pressures or bureaucratic decision-making processes.”

How Small EV Players Can Survive in India: Key Strategies

Understanding regional preferences is crucial for how small EV players can survive in India. The country’s diverse geography, climate, and usage patterns create opportunities for targeted solutions that address specific regional needs.

1. Localization: The Cost Advantage

One of the prominent EV market trends India is witnessing is the increasing focus on localization. Jitendra EV has achieved 95% localization for their Primo and JMT models, and 70% for the Yunik model. This approach not only reduces costs but also aligns with government initiatives like ‘Make in India.’

“Localization gives us control over our supply chain and costs,” explains Shah. “It also allows us to adapt quickly to changing market conditions and customer feedback.”

2. Strategic B2B Partnerships

Small EV manufacturers are focusing on niche segments to establish their presence. Jitendra EV is exploring partnerships with e-commerce and quick commerce companies to supply vehicles for their delivery fleets. These B2B relationships provide stable demand and valuable feedback for product improvement.

3. After-Sales Excellence

“After-sales service is where small players can truly differentiate themselves,” Shah emphasizes. “We can provide more personalized attention and quicker response times than larger companies with more bureaucratic service structures.”

This focus on customer service creates loyal customers who become brand advocates—a crucial advantage in a market where word-of-mouth recommendations significantly influence purchasing decisions.

Challenges Faced by Small Electric Vehicle Manufacturers in India

Despite their innovative approaches, small EV players face significant hurdles:

1. Resource Rules

The agility of small EV manufacturers allows them to adapt quickly to market changes, but limited financial resources can constrain R&D investments and marketing reach.

2. Brand Recognition

Competing with established automotive brands requires building trust and recognition—a particular challenge for newer entrants.

3. Scaling Production

Meeting growing demand while maintaining quality control presents operational challenges for smaller manufacturers.

4. Navigating Regulatory Changes

The rapidly evolving regulatory landscape for EVs in India requires constant adaptation and compliance efforts.

The Future Outlook for Small EV Players in India

Despite these challenges, the outlook for small EV players in India remains promising. The market’s size and growth trajectory create space for diverse players, particularly those who can identify and serve specific customer segments effectively.

“We don’t need to be everything to everyone,” Shah concludes. “We just need to be the best option for our target customers.”

As the EV revolution accelerates in India, companies like Jitendra EV demonstrate that David can indeed thrive alongside Goliath—not by trying to match the giant’s size, but by being smarter, more agile, and more attuned to specific customer needs.

Electric Vehicle Localization Strategies in India: Lessons from Jitendra EV

Local manufacturing is becoming a key differentiator in the Electric Vehicles India market. Jitendra EV’s approach to localization offers valuable lessons for other small manufacturers:

1. Start with non-critical components: Begin localization with simpler parts while ensuring quality control
2. Develop supplier ecosystems: Work closely with local suppliers to improve capabilities
3. Invest in quality assurance: Maintain rigorous testing protocols for locally sourced components
4. Gradual implementation: Increase localization percentages over time rather than attempting 100% immediately

This methodical approach has allowed Jitendra EV to achieve high localization rates without compromising product quality.