Jitendra EV plans to invest up to £ 125 CR in development products in 5 years, improve capacity

New Delhi, April 14 (PTI), Jitendra EV, an electric vehicle manufacturer, plans to invest up to £ 125 crore in the next five years in research and development (R&D), product development and improving manufacturing capacity, co-founder Samkit Shah said. The company, which showed its Hydrix-a hybrid vehicle launched in 2028-will also double its sales in the continued financial year, of a total of 4200 units sold in 2024-25, Shah told Pti. “In the next five years, we intend to invest about £ 80 crore to £ 100 on R&D and product development and another £ 25 for manufacturing,” he said. Shah said the company focuses on both velocity and low-speed electrical two-wheelers to meet the developing customers’ requirements, including those of the last kilometer delivery in the e-commerce segment. On the product side, the company develops its Hydrix, a hybrid triquad that will be introduced in 2028, powered by hydrogen and electricity with an estimated range of 400 km and a top speed of 120 km/hour. It is also ready to launch Klassoo, a high-performance electric two-wheeler for modern urban commuting, later this year. It has already launched the electric scooter Yunik at £ 1,24.083 (former showroom) which has a 118km series per charge with a top speed of 72 km/hour that targets young professionals and family riders. On the manufacturing side, Shah said the company’s facility at Nashik has an installed capacity of 60,000 units per year, which can be scaled up to 96,000 units. Based on the company’s network expansion plans and Target to increase sales, manufacturing capacity will be scaled up, Shah said, adding that Jitendra EV has already acquired a seven -acre country from the Nashik itself to meet the future requirements. On a question about the sales prospects, he said: “In the next 2-3 years, by 2028, we plan to have a sales of 10,000-15,000 units per month.” In 2024-25, the company sold almost 4.200 units, of which more than 3600 layers were and 500 with high speed electrical scooters, he said, ” These two numbers double. “Double sales will be on the back of expanding the sales network, he said, adding:” We add another 100 traders this year. “Currently, the company has 100 traders in 25 cities.” Our main focus statements are Maharashtra, Gujarat, Tamil Nadu, Uttar Pradesh, Karnataka and Delhi, ” 14 Apr 2025, 12:25 pm Ist