Jupiter Wagons Limited, manufacturer of wagons, high-speed brake systems, and railway and engineering equipment, is entering the electric mobility market with the launch of ‘Jupiter Electric Mobility’ (JEM) focusing on commercial EV vehicles, a statement said on Wednesday.
The company has formed a joint venture with EA GreenPower Private Limited, a wholly-owned subsidiary of GreenPower Motor Company, a publicly listed company in the United States and Canada specialising in ECVs (electric commercial vehicles) in the passenger transportation and freight transport markets.
The joint venture will mark GreenPower Motor’s entry into India, focus on ECVs for Indian and other markets, and launch products in the passenger transit and cargo market in the next two years. They also intend to shift their manufacturing hub to India from China and export from there to the global markets, the statement added.
According to a report from consulting firm RBSA Advisors, the electric vehicle market in India appears to be picking up steam, with a CAGR of 90 percent expected between 2021 and 2030.
JEM will work with GreenPower Motor to undertake end-to-end production in India and establish service facilities in key markets to expand to after-sales requirements for a seamless customer experience.
Meanwhile, tech-enabled third-party logistics service provider Zyngo on Tuesday said it will deploy over 18,000 electric vehicles for last-mile delivery in the country as part of its fleet augmentation plans.
These delivery vehicles, which are to be deployed pan-India by this fiscal-end, are being leased/sourced by the company from various domestic original equipment makers (OEMs), Zyngo EV Mobility said in a statement.
Zyngo has been catering to several major e-grocery and e-commerce platforms with its fleet spread across Delhi-NCR, Bengaluru, Mumbai, Hyderabad, Jaipur and Chandigarh.