In the next five years, Jitendra EV plans to spend as much as Rs 1.25 billion, or approximately USD 14 million, on product development, R&D, and capacity expansion in manufacturing.
The company, according to Jitendra EV co-founder Samkit Shah, aims to double its sales in the ongoing fiscal year from 4,200 units sold in 2024–2025.
To effectively meet the changing needs and requirements of customers, especially in terms of last-mile delivery services in the context of e-commerce, the company is focusing heavily on the development and improvement of low-speed and high-speed electric two-wheelers, according to Shah.
Jitendra launched Yunik electric scooter in 2024. It is to launch a second electric two-wheeler, Klasoo, this year. The company has reportedly also been working on a hybrid Triquad, to be introduced in 2028, which will run on electricity as well as hydrogen.
In a bid to enhance production in the coming years, the company acquired a seven-acre plot in Nashik, in the western Indian state of Maharashtra.
The domestic electric two-wheeler market is dominated by scooters, and the penetration of electrification is higher within this segment (approximately 15%) than in overall two-wheelers (5-6%).
The Bajaj Chetak was India’s market leading electric scooter during the fourth quarter of the fiscal year 2024-2025 with a powerful market share of 29%.
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