Jitendra EV to Invest ₹125 Crore in R&D and Manufacturing Over Next 5 Years

Electric vehicle manufacturer Jitendra EV is planning to invest up to ₹125 crore over the next five years towards research & development (R&D), product development, and enhancing its manufacturing capabilities, Co-Founder Samkit Shah has revealed.

The company recently showcased its upcoming hybrid vehicle, Hydrix, which is slated for launch in 2028. The Triquad will be powered by both hydrogen and electricity, with an estimated range of 400 km and a top speed of 120 km/h.

“We are planning to invest ₹80–₹100 crore in R&D and product development, and an additional ₹25 crore in scaling up manufacturing facilities,” Shah said.

Jitendra EV is also preparing to launch ‘Klasoo’, a high-performance two-wheeler designed for modern urban commuting. In addition, the company has already launched its electric scooter ‘Yunik’, priced at ₹1,24,083 (ex-showroom), offering a 118 km range per charge and a top speed of 72 km/h — targeting both young professionals and family users.

On the manufacturing front, the company’s facility in Nashik currently has an annual capacity of 60,000 units, which can be expanded to 96,000 units. Jitendra EV has also acquired seven acres of land in Nashik to support future growth.

Discussing sales targets, Shah said, “We aim to sell 10,000 to 15,000 units per month by 2028.” In FY 2024-25, the company sold around 4,200 units, including over 3,600 low-speed and 500 high-speed electric scooters. Jitendra EV plans to double these figures in FY 2025-26.

This growth will be backed by a robust sales network expansion, with plans to add 100 new dealers this year. Currently, the company operates through 100 dealers across 25 cities.

“Our key focus states include Maharashtra, Gujarat, Tamil Nadu, Uttar Pradesh, Karnataka, and Delhi,” Shah added.