Jitendra New EV Tech bags Rs 120 crore order for 12,000 e-scooters

Jitendra New EV Tech, one of the fastest growing electric two-wheeler OEMs in India, has signed an MoU with last-mile logistics company FAE Bikes to supply 12,000 electric scooters. This is one of the biggest single order for EVs in the country.

The Nashik-based EV maker will provide 1,200 units of the JMT 1000 3K e-scooter to FAE Bikes over a period of one year. The value of the deal is estimated to be approximately Rs 120 crore. The JMT 1000 3K, which uses a 1000 W motor powered by a 3.12 kWh battery, is claimed to deliver a riding range of 126km on single charge and has a maximum speed of up to 52kph.

Initially, FAE Bikes will offer these new JEV scooters to its customers across Bengaluru, Delhi NCR, and Hyderabad. Headquartered in Bengaluru, FAE Bikes is a 'smart' last mile logistics company that offers the largest fleet of electric vehicles. The company works with several Indian logistics companies to facilitate door-to-door logistics services with a fleet of e-scooters.

Commenting on this new deal, Samkit Shah, co-founder, Jitendra New EV Tech, said, “Enabling the increased adoption of EVs has been a key driver for Jitendra New EV Tech and this MoU with FAE Bikes is in service of this goal. We look at this not only as a strategic business deal but also an opportunity to make electric vehicles accessible for more and more Indians.”

Jitendra EV Auto Tech’s range of electric two-wheelers comprises 10 models. The company’s network comprises more than 150 3S touch- points across the country.

Nigam Krishna, Co-founder, FAE Bikes, said, “Jitendra EV has been in the industry for a while now and we couldn’t be happier to partner with the brand. This deal with the indigenous EV brand is a crucial step in FAE Bikes’ endeavour to expand the availability of its offerings to a larger customer base and also boosts our goal to drive increased EV usage in India.”