Jupiter Wagons forays into EV segment, launches ‘Jupiter Electric Mobility’
Kolkata-based Jupiter Wagons Ltd. (JWL), a prominent manufacturer of railway wagons, high-speed brake systems and engineering equipment, has announced its entry into electric mobility with the launch of 'Jupiter Electric Mobility' (JEM) focusing on electric commercial vehicles (ECVs).
The company has formed a JV with North American firm GreenPower Motor Company Inc. specializing in ECVs (Electric Commercial Vehicles) in the passenger transportation and freight transport markets, thereby making GreenPower Motor's entry into India.
The newly formed company will focus on ECVs for the Indian and other similar markets, and develop products in the passenger transit and cargo market in the next two years, according to the press statement.
"Jupiter Wagons Limited has always aimed to be at the forefront of infrastructure innovation and advancement and understands the need in the e- mobility space. With the introduction of 'Jupiter Electric Mobility,' we aim to meaningfully contribute toward the electrification of vehicles by reducing dependence on conventional power sources while bringing cost efficiencies to the business", said Vivek Lohia, Director, Jupiter Wagons Group.
He further added, "With our JV with GreenPower Motors, we seek to align the technology assets of both organizations by generating safety and sustainability in the EV market. The GreenPower ECVs will allow us to satisfy a wide range of unmet business needs".
Jupiter Electric Mobility (JEM) will roll out light-, medium-, and heavy- commercial vehicles in the 3 to 20 tonnage segments. The company's distribution network will focus on B2B with logistics businesses, e-commerce companies, and FMCG. The partnering companies intend to invest ₹ 200 crores over the next three years.
Brendan Riley, President of, GreenPower, commented, "GreenPower has entered into a joint venture with Jupiter Wagons Group, to bring GreenPower's EV Star Cab and Chassis to the Indian market. We are excited to be working with Jupiter to homologate the Right-Hand Drive model of GreenPower's EV Star CC and conduct demonstrations with customers through JWL's distribution channels.The JV leverages the strengths of both groups while we identify the best market opportunities."
The US-Canadian firm also intend to shift its manufacturing hub to India from China, and export from here to the global markets.