Kolkata-based Jupiter Wagons Ltd, a key player in railway wagon manufacturing, wagon components, and commercial vehicle load bodies, has entered the electric mobility sector through its subsidiary, Jupiter Electric Mobility. At the launch of its electric small truck, JEM Tez, featuring a 1.1-tonne payload capacity, in Indore, Vivek Lohia, Managing Director of Jupiter Wagons Ltd, spoke to businessline about the company’s EV strategy, product pipeline, supply chain, and future plans. Edited excerpts:
What is the strategic reasoning behind your entry into the EV space?
Our entry into the electric vehicle space stems from our existing expertise in manufacturing for major OEMs like Tata Motors and Eicher. While we have facilities in Indore and Jamshedpur, the OEM business operates on low margins, prompting us to explore EVs for scalability and innovation. Initially, we partnered with the US-based Green Power and later collaborated with Log9 Materials for advanced battery technology—crucial for electric trucks. Beyond EVs, we also supply lithium-ion batteries for Vande Bharat trains and collaborate with Siemens and Alstom on auxiliary power systems. Unlike the highly competitive two- and three-wheeler EV markets, electric small trucks remain relatively untapped. Manufacturing trucks is complex, with longer development cycles and higher infrastructure costs. Our strength lies in leveraging existing assets—our Indore facility handles cabins, chassis, and container production, while our battery operations are based in Bengaluru—helping us keep capital costs low while ensuring efficiency and innovation.
What factors influenced your choice to enter the small commercial vehicle segment?
The EV truck market presents a significant opportunity. Similar to the growth seen in two- and three-wheeler EVs, small commercial vehicles (SCVs) are poised for a similar shift. The SCV segment in India exceeds 400,000 units annually, and even a 25-30 per cent EV adoption translates into a 100,000-unit opportunity, allowing room for multiple players. While large OEMs will lead the sector, our strategy focuses on differentiation through technology and application-specific solutions. Success in this market hinges on three key factors—product reliability, quality & durability, and after-sales service & support. If we get these right, adoption will follow naturally.
What key features and innovations give your product a competitive edge in the market?
Our truck offers several competitive advantages. Unlike major brands using low-voltage systems, we have adopted a high-voltage platform, similar to passenger EVs, enhancing efficiency and delivering a real-world range of nearly 200 km—compared to the 115 km offered by a leading competitor. The JEM Tez also supports CCS fast charging, ensuring widespread accessibility across India. Additionally, our 80-kW motor enables a higher payload capacity, and with 20 per cent gradability, the truck performs better on inclines. We have also priced it competitively, with an ex-showroom price of ₹10.35 lakh.
What are your upcoming EV product plans?
We are following a structured approach, beginning with 1-tonne+ electric trucks and expanding into the 2-tonne and 3-tonne categories. By the end of this year, we aim to launch 2-tonne and 3-tonne electric trucks, strengthening our presence in the last-mile delivery sector. This aligns with the evolving pickup segment in the 2-3.5 GVW range. Over the next couple of years, the market is expected to shift towards 2-tonne models, making it essential for us to offer a complete lineup. Our focus remains on the light commercial vehicle (LCV) segment, and at this stage, we have no plans to expand beyond it or enter the electric three-wheeler market.
What is your market expansion plan, and what are your sales targets?
Initially, we are focusing on metro markets where charging infrastructure is well-established. Looking ahead, our five- to six-year vision is to achieve annual sales of 100,000 vehicles. This would require infrastructure expansion, but for now, our Pithampur (Indore) facility has a production capacity of 8,000 vehicles per year. If we achieve a steady volume of 400-500 vehicles per month, scaling up will become significantly easier. Unlike the railway sector, which requires heavy equipment and long timelines, EV manufacturing is primarily assembly-driven, making it easier to scale up operations.