India’s Jitendra EV to invest $14 million in R&D and products
The electric vehicle maker is focusing on both high-speed and low speed electric two-wheelers to meet evolving customer requirements, which include last-mile delivery in the e-commerce sector.
Indian electric vehicle maker Jitendra EV plans to invest up to INR 1.25 billion (about USD 14 million) in the next five years on research and development (R&D), product development and boosting manufacturing capacity.
The company aims to double its sales in the current fiscal year, up from the 4,200 units sold in 2024-25, Jitendra EV co-founder Samkit Shah told Indian news agency PTI.
The company is focusing on both high-speed and low speed electric two-wheelers to meet evolving customer requirements, which include last-mile delivery in the e-commerce sector, Shah said.
Jitendra launched an electric scooter Yunik in 2024. This year, it is looking to launch Klasoo, another electric two-wheeler. The company is also reportedly developing a hybrid Triquad, which will run on both hydrogen and electricity, and is expected to be launched in 2028.
The firm has bought a seven-acre plot in Nashik in the western state of Maharashtra as it looks to boost production in the coming years.
“In the next 2-3 years, by 2028, we plan to have sales of 10,000-15,000 units per month,” Jitendra EV co-founder Samkit Shah told PTI.
According to data from India’s road and transport ministry, India’s EV sales in 2024 stood at 1.95 million units compared to 1.53 million units in 2023. Of this, the electric two-wheeler sales stood at 1.15 million units in 2024, up 33% from 860,418 units in 2023.
The country’s electric two-wheeler market is dominated by scooters, with electrification penetration higher in this segment (about 15%) than overall two-wheelers (5-6%).
Bajaj Chetak was India’s top-selling electric scooter for the last quarter of 2024-2025 with a 29% market share.