Nashik-based electric vehicle manufacturer Jitendra EV plans to invest up to ₹125 crore over the next five years to boost its research & development, introduce new products, and expand its manufacturing capabilities, Co-Founder Samkit Shah has revealed.
Of the total planned investment, ₹80–100 crore will be allocated to R&D and product innovation, while ₹25 crore will go towards ramping up manufacturing infrastructure. The company, which currently has an annual production capacity of 60,000 units at its Nashik facility, aims to scale it up to 96,000 units in line with increasing demand. It has already acquired a seven-acre land parcel nearby to accommodate future growth.
Jitendra EV is also eyeing a significant increase in sales, targeting 10,000–15,000 units per month by 2028. In FY2024–25, the company sold approximately 4,200 units — with over 3,600 low-speed and 500 high-speed electric scooters. For FY2025–26, the firm aims to double these figures.
On the product front, Jitendra EV is developing Hydrix, a hydrogen-electric hybrid Triquad vehicle with a projected 400 km range and 120 km/h top speed, slated for launch in 2028. This year, it plans to unveil Klasoo, a high-performance electric two-wheeler for urban commuters. The company recently launched its Yunik electric scooter, priced at ₹1.24 lakh, featuring a 118 km range and a 72 km/h top speed.
To support its growth, the company is also doubling its dealer network to 200 outlets, with a focus on key markets such as Maharashtra, Gujarat, Tamil Nadu, Uttar Pradesh, Karnataka, and Delhi.
