Electric vehicle manufacturer Jitendra EV is set to invest up to Rs 125 crore over the next five years to accelerate its growth across research and development (R&D), product innovation, and manufacturing expansion.

Of the total planned investment, Rs 80 crore to Rs 100 crore will be directed towards R&D and product development, while Rs 25 crore will support scaling up manufacturing capabilities. 

The company’s facility in Nashik currently has an annual production capacity of 60,000 units, with plans to scale it up to 96,000 units to support its growth targets.

Jitendra EV has already acquired seven acres of land in Nashik to accommodate future capacity expansion aligned with the company’s network and sales goals.

The firm also projects monthly sales to grow to 10,000-15,000 units by 2028, supported by the addition of 100 new dealerships this year, effectively doubling its current network of 100 dealers spread across 25 cities.

“Our key focus states are Maharashtra, Gujarat, Tamil Nadu, Uttar Pradesh, Karnataka and Delhi,” Co-Founder Samkit Shah said. 

He further stated, “We are focusing on both high-speed and low-speed electric two-wheelers in order to address the evolving customer requirements, including those of last-mile delivery in the e-commerce segment.”