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Jupiter Wagons Limited is a manufacturer of wagons and high-speed brake systems as well as railway and engineering equipment. The company announced that it will launch Jupiter Electric Mobility (JEM), which will focus on commercial electric vehicles.
The company formed a partnership with EA GreenPower Private Limited which is a wholly-owned subsidiary of GreenPower Motor Company Inc., a public company in the United States and Canada that specializes in electric commercial vehicles (ECVs) for passenger and freight transport.
GreenPower Motor will launch products in India’s passenger transit and cargo markets in the next two years, with the joint venture marking their entry into India. The statement also stated that they plan to move their manufacturing center to India from China, and then export to the global markets from there.
According to a report by RBSA Advisors consulting firm, India’s electric vehicle market is growing rapidly with a CAGR expected to reach 90% between 2021-2030.
JEM and GreenPower Motor will collaborate to produce end-to-end in India, as well as establish service centers in key markets to meet customer after-sales needs.