Chennai, 13th 2023: Jupiter Electric Mobility (JEM), the commercial electric vehicle arm of Jupiter Wagons Ltd (JWL) today unveiled the e-LCVs – JEM TEZ of 2.2 and EV STAR CC of 7 Ton GVW at the Auto Expo – The Motor Show 2023 and forayed its entry into the commercial electric vehicle segment. The strategic alliances and partnerships with key foreign and domestic companies that have expertise in the EV sector have further added strength to the brand and its goal is to become the market leader in the CEV segment in India.
JEM has launched two variants of E-LCVs into the market and plans to undertake end-to-end production in India and establish service facilities in key markets, in order to expand into the after-sales requirements for a seamless customer experience. The CEVs will cater mainly to the needs for the last mile delivery, tapping the major metros Mumbai, Delhi-NCR, Pune, and Bangalore initially. (For more details on the product please see ANNEXURE I).
Enhancing its existing capabilities and expertise in the mobility solutions business, JEM has entered into a strategic alliance with North America based GreenPower Motor Company specialising in Commercial Electric Vehicles in the passenger transportation and freight transport markets. The strategic partnership with Log 9 Materials for EV batteries and Xavion Mobility for vehicle design and development will prove extremely beneficial to create a competitive product that is highly appreciated in the market.
Elated at the new breakthrough achieved by the company, Mr. Vivek Lohia, Managing Director at Jupiter Wagons Ltd said, “As a cleaner alternative, electric vehicles have become a global narrative and an important step towards sustainable transportation goals. Today with the launch of JEM TEZ and EV STAR CC we are entering a new era at the Jupiter Group. Innovation and Sustainability are at the helm of the company’s philosophy and today’s launch is a testimony to our belief. India has a huge potential for the EV business and we see a large opportunity for us in becoming an important player in the coming future. Looking at the cost benefits of EVs and sustainable approach, EVs will eventually take over the ICE market. The government’s vision of creating a green future and favourable policy support will only boost this segment further.”
Commenting on the launch, Mr. Gaurav Jalota, CEO, Jupiter Electric Mobility said, “We are extremely optimistic about the business growth of CEVS, considering our legacy in the mobility solutions category, entering into the CEV segment was the natural growth trajectory for the company. Our manufacturing facilities are of world-class standard with the latest technologies while being a game-changer in sustainability space. We aspire to be one of the sought-after names in the CEV business in India.”
The company with its manufacturing facilities in Jabalpur, Indore, and Kolkata has over 200 acres on campus and as expertise in mass-scale manufacturing and auto component engineering. With the tech-enabled processes and highly qualified and skilled workforce, JEM is in a position to create an advantageous spot for its well-researched and strongly engineered CEV products in the market. The company plans to have a complete bouquet of electric vehicles from LCV, MCV, HCV, and Bus in the future.
According to the Centre for Energy Finance (CEEW-CEF) study, the electric vehicle (EV) market is estimated to reach Rs. 50,000 Cr in India by 2025.