In a bold move set to reshape India’s electric mobility landscape, Nashik-based Jitendra EV has unveiled an ambitious ₹125 crore investment blueprint spanning the next five years. This strategic initiative aims to accelerate product innovation, enhance manufacturing capabilities, and strengthen the company’s position as a key player in India’s rapidly growing electric vehicle market.
“We’re focusing on both high-speed and low-speed electric two-wheelers to address evolving customer requirements, including those of last-mile delivery in the e-commerce segment,” explains Samkit Shah, Co-Founder of Jitendra EV, outlining the company’s vision for the future.
Breaking Down the Investment Strategy
The company’s comprehensive investment plan allocates funds strategically across different business areas:
| Investment Area | Allocation (₹ Crore) | Key Objectives |
|---|---|---|
| R&D and Product Development | 80-100 | New model development, technology innovation, performance enhancements |
| Manufacturing Expansion | 25 | Capacity increase from 60,000 to 96,000 units annually |
| Dealership Network | Remaining funds | Addition of 100 new dealers across key markets |
This calculated approach demonstrates Jitendra EV’s commitment to building a sustainable business while addressing multiple aspects of the electric mobility ecosystem.
Product Innovation Pipeline
At the heart of Jitendra EV’s growth strategy lies an impressive product roadmap designed to cater to diverse market segments:
Current and Upcoming Models
- Yunik – The company’s flagship electric scooter already in the market
- Price: ₹1,24,083 (ex-showroom)
- Range: 118 km per charge
- Top speed: 72 km/h
- Klasoo – A high-performance electric two-wheeler targeting urban commuters
- Expected launch: Later in 2025
- Positioned as a premium offering
- Hydrix – A revolutionary hybrid Triquad vehicle
- Technology: Combination of hydrogen and electric power
- Estimated range: 400 km
- Top speed: 120 km/h
- Projected launch: 2028
“Our product development strategy focuses on addressing specific user needs while pushing technological boundaries,” notes Shah. “The Hydrix represents our vision for the future of sustainable mobility that goes beyond pure electric solutions.”
Manufacturing Capacity Expansion
To support its ambitious growth plans, Jitendra EV is significantly scaling up its production capabilities:
- Current capacity: 60,000 units per annum at the Nashik facility
- Planned expansion: Increase to 96,000 units
- Future growth: Seven-acre plot acquired in Nashik for additional expansion
This phased manufacturing expansion aligns with the company’s sales projections, which aim to double the 4,200 units sold in the 2024-25 fiscal year. By 2028, Jitendra EV targets monthly sales of 10,000-15,000 units—a nearly 30-fold increase from current levels.
Dealership Network Growth
Recognizing the importance of distribution in driving adoption, Jitendra EV plans to significantly expand its retail presence:
- Current network: 100 dealerships across 25 cities
- Expansion plan: Addition of 100 new dealers in 2025
- Focus markets: Maharashtra, Gujarat, Tamil Nadu, Uttar Pradesh, Karnataka, and Delhi
This strategic expansion targets regions with high EV adoption potential and supportive state policies, enabling the company to maximize its market reach efficiently.
Market Context and Industry Position
Jitendra EV’s investment comes at a pivotal moment for India’s electric two-wheeler market:
- Total EV sales in India reached 1.95 million units in 2024, up from 1.53 million in 2023
- Electric two-wheeler sales stood at 1.15 million units in 2024, a 33% increase from 860,418 units in 2023
- Scooters dominate the electric two-wheeler market with approximately 15% electrification penetration
While facing competition from established players like Bajaj Chetak (which held a 29% market share in Q4 2024-25), Jitendra EV is positioning itself as an innovation-focused alternative with unique offerings that address specific market segments.
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FAQs About Jitendra EV’s Investment Plan
How much is Jitendra EV investing and over what timeframe?
Jitendra EV plans to invest up to ₹125 crore (approximately $14 million) over the next five years, with the majority allocated to R&D and product development (₹80-100 crore) and the remainder for manufacturing expansion (₹25 crore).
What new products is Jitendra EV developing?
The company is developing several new vehicles, including the Klasoo high-performance electric two-wheeler (launching in 2025) and the Hydrix hybrid Triquad vehicle that combines hydrogen and electric power (expected in 2028). These complement the existing Yunik electric scooter.
How will manufacturing capacity be affected by this investment?
Jitendra EV plans to increase its Nashik facility’s production capacity from the current 60,000 units per annum to 96,000 units. Additionally, the company has acquired a seven-acre plot in Nashik for future expansion as demand grows.
What are Jitendra EV’s sales projections?
The company aims to double its sales in the current fiscal year from the 4,200 units sold in 2024-25. By 2028, Jitendra EV targets monthly sales of 10,000-15,000 units, representing significant growth over the next few years.
Which markets is Jitendra EV focusing on?
The company is concentrating its expansion efforts in Maharashtra, Gujarat, Tamil Nadu, Uttar Pradesh, Karnataka, and Delhi—states with favorable EV policies and growing demand for electric mobility solutions.
The Road Ahead: Positioning for Long-Term Success
Jitendra EV’s comprehensive investment strategy reflects a deep understanding of the evolving electric mobility landscape in India. By simultaneously addressing product innovation, manufacturing capacity, and distribution reach, the company is building a foundation for sustainable growth in a competitive market.
“Our investment isn’t just about expanding production—it’s about creating a holistic ecosystem that supports the transition to electric mobility,” emphasizes Shah. “From urban commuters to last-mile delivery solutions, we’re developing products that meet real-world needs while pushing technological boundaries.”
As India continues its push toward electric mobility, Jitendra EV’s strategic investments position it to capture a significant share of this growing market. With a clear vision, innovative product pipeline, and expanding footprint, the company embodies the entrepreneurial spirit driving India’s electric revolution.
For consumers, fleet operators, and industry observers alike, Jitendra EV’s ambitious plans signal that homegrown innovation will play a crucial role in shaping India’s sustainable transportation future.
