The Nashik-based EV manufacturer believes smaller players can do well if they offer good quality at an affordable price.
18 Mar 2025 | 3798 Views | By Darshan Nakhwa
Jitendra New EV Tech Pvt Ltd, an emerging electric two-wheeler manufacturer from Nashik, is banking on product portfolio diversification, dealership expansion, strong after-sales service, and technological innovation to position itself as a serious contender in the Indian market.
Currently, India's e-two-wheeler sector comprises 220 original equipment manufacturers, of these, ...
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Jitendra New EV Tech Pvt Ltd, an emerging electric two-wheeler manufacturer from Nashik, is banking on product portfolio diversification, dealership expansion, strong after-sales service, and technological innovation to position itself as a serious contender in the Indian market.
Currently, India's e-two-wheeler sector comprises 220 original equipment manufacturers, of these, top four players—Ola Electric, TVS Motor, Bajaj Auto, and Ather Energy—control nearly 80% of the market. Despite the dominance of few players, Jitendra EVs Chief Executive Officer and Director, Samkit Shah, believes the market has room for multiple players to coexist as the pie is big.
"If you look at China, it has among the highest EV, electric vehicle, penetration. At the same time the country has more than 200 players in the EV space. We expect something similar to happen in the Indian market," Shah told Autocar Professional.
"At this point, the legacy players definitely have an upper hand for a lot of reasons, but eventually it will come down to the product on offer, whether it is good quality, cost effective, and offers adequate performance. A lot will also depend on aftersales service. India is the world's biggest two-wheeler market, and the majority of it hasn't been EV-fied, so there's a lot of scope for growth for everyone," he said.
Currently, the company offers three models, Yunik, Primo, and JMT, and a total of 11 variants. The three products address three different customer segments. While the JMT 1000 series targets the gigworkers, the Primo series targets the youth with its stylish design and features. The JMT 1000 series offers a minimum range of 75 km and maximum of 137 km, depending on the battery capacity. The Primo series offer a 66-137 km of range, depending on the variant.
The third model, Yunik, sits as a family scooter in the lineup, and also targets young professionals. It comes equipped with a 3.8 kW detachable battery and offers a range of 130 km. In FY26, Jitendra EV plans to launch the budget and pro models of its Yunik scooter.
It is also working on a performance motorcycle and a trike vehicle, which are scheduled to be launched at a later date.
"We will launch an electric motorcycle around October. Its performance will be similar to that of a 150 cubic capacity internal combustion engine motorcycle, and it is likely to be priced around Rs 1-1.25 lakh. We are also developing a performance oriented motorcycle, and will introduce it as and when we feel there is a market for it," Shah added.
In addition to two-wheelers, the Nashik-based company is also working on a trike vehicle with hydrogen fuel cell technology. The concept vehicle was showcased at the Bharat Mobility Global Expo 2025, and is expected to hit Indian roads by 2028.
On the manufacturing of current offerings, Shah said the company has achieved 95% localisation for Primo and JMT models, and 70% for the Yunik model–which is expected to increase to 90% by next year. The company is also receiving government incentives for all the models.
Shah emphasized that while Jitendra EV is developing premium models, the company's primary focus remains on mass-market commuter EVs, which serve maximum customers' needs.
"We expect the commuter segment of the ICE (internal combustion engine) two-wheelers to be replaced by EVs. So the volumes are going to come from commuter category EVs. Premium ICE two-wheelers have a niche customer base and it's the same even on the electric side. So while we are developing premium products for the niche market, our focus will remain on the mass segment," he said.
The Nashik-based company currently holds around 0.8% market share in the e-two-wheeler sector in India. In the ongoing financial year, Jitendra EV clocked sales of around 800 units a month on an average, and has set a goal of 1,200 units per month for the next financial year.
"Our goal is to become a prominent player in the EV sector over the next five years. In the short-term, that is, by the end of FY26, we are aiming for a market share of 5%, and by FY30 we want to increase it to 10-12%," Shah said.
"The demand for low-speed electric two-wheelers has been strong and growing in prominent markets, especially from the B2B (business-to-business) buyers. With the launch of Yunik, a family scooter, we expect the share of high-speed two-wheelers in total sales to grow as well. In FY26, high-speed e-two-wheelers should contribute 60% of our sales,” said Sachin Shende, National Head of Sales and Marketing at the company.
When asked about whether the company is looking for tie-ups with fleet operators to further drive its low-speed vehicle sales, Shah said, "We are already in discussion with quick commerce and e-commerce players for their delivery fleet. Currently, we are at an agreement stage with a food delivery company and quick commerce company for their fleet. The sales expectation for next year is based on these agreements."
The company has enough scope to drive volumes through B2B (business-to-business) and B2C (business-to-consumer) sales, according to Shah. But currently, they are focusing on after-sales service, to provide a good experience to customers. This in turn is expected to drive sales in future.