Jupiter Wagons Limited, a manufacturer of wagons, high-speed brake systems, and railway and engineering equipment announces its plans to enter the electric mobility market with the launch of ‘Jupiter Electric Mobility’ (JEM) focusing on commercial EV vehicles.
The company also announced the formation of a joint venture with EA GreenPower Private Limited, a wholly-owned subsidiary of GreenPower Motor Company Inc.(“GreenPower”). It is a publicly-listed firm based in the United States and Canada specializing 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, said a company statement. The companies also intend to shift their manufacturing hub to India from China and export from there to the global markets.
Brendan Riley, President, 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.”
With this partnership, the Indian market will see the rolling out of LCV (Light Commercial Vehicles), MCV (Manufacturing Commercial Vehicles), and HCV (Heavy Commercial Vehicles) categories from 3 to 20 tonnes, the company stated.
The company’s distribution network will focus on B2B with logistics businesses, E-commerce companies, and FMCG. On the other hand, the secondary market will examine the retail channels as a B2C market. In the following three years, the corporation intends to invest INR 200 crores.
“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,” stated Vivek Lohia, Director, Jupiter Wagons Group.
“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,” he further added.