Jitendra EV Drives Forward with Rs 125 Crore Investment in Green Mobility

Jitendra EV plans a Rs 125 crore investment over five years in R&D, product development, and manufacturing to enhance its electric vehicle offerings. Key projects include the hybrid Hydrix and urban-focused Klasoo. The company targets significant sales growth, doubling its output with strategic market expansions.

Electric vehicle manufacturer Jitendra EV has announced plans to invest up to Rs 125 crore over the next five years, focusing on research and development, product innovation, and expanding manufacturing capacity, according to Co-Founder Samkit Shah.

The company is eyeing an ambitious growth trajectory, with the launch of its hybrid vehicle, Hydrix, by 2028, and aims to double sales in the current fiscal year. Last year, Jitendra EV sold over 4,200 units and plans to increase this to between 10,000-15,000 units per month by 2028, aided by an expanded dealer network.

Apart from Hydrix, Jitendra EV is set to introduce Klasoo, a high-performance electric scooter, by the end of the year, complementing their existing model, Yunik, targeting urban commuters. The company's manufacturing facility in Nashik has the potential to scale up its capacity significantly to meet future demand.

(With inputs from agencies.)