Jupiter Wagons Signs Agreement to Supply 300 Electric Light Commercial Vehicles to Pickkup
By Ankur Chandra | Updated at: May 31, 2025 10:45 PM IST
Kolkata, May 27, 2025
Jupiter Wagons Limited (BSE: 533272, NSE: JWL) has announced that it has signed an MoU with logistics-tech company Pickkup to increase EV development in India. The agreement signed by JWL is through its subsidiary Jupiter Electric Mobility (JEM).
Strategic Partnership Overview
The agreement signed by JEM and Pickkup includes JEM providing 300 of its flagship electric light commercial vehicles, the JEM TEZ, to Pickkup by the year-end. The agreement has successfully executed its pilot run, and the first batch of vehicle deliveries has already been completed.
| Key Parameters | Details |
|---|---|
| EV Model | JEM TEZ |
| Range Achieved (Pilot) | 190–220 km on a single charge |
| Payload Capacity | 1,050 kg |
| Deployment Timeline | By the end of the calendar year 2025 |
| Charging Compatibility | CCS2 standard |
Strategic Intent & Market Impact
This partnership directly supports the Government of India’s PM e-DRIVE scheme and aligns with national clean mobility goals. The vehicles provided by JEM to Pickkup will cover routes such as Delhi to Chandigarh and will support intra and inter-city deliveries for Pickkup.
Mr. Vivek Lohia, Managing Director of Jupiter Group, commented:
“With Pickkup, we seek to transform last- and mid-mile logistics into a scalable, tech-enabled, and environmentally friendly ecosystem that fuels economic prosperity while minimising carbon emissions.”
Mr. Ankush Sharma, Co-founder and CEO of Pickkup, added:
“JEM TEZ has nailed real-time challenges in the segment by delivering 30% more range on a single charge while supporting a substantial payload. It is perfectly positioned to enhance intercity operations and improve driver earnings.”
Company Background & Infrastructure
- Jupiter Electric Mobility operates a manufacturing facility in Pithampur, Indore, with an initial capacity of 8,000–10,000 e-LCVs annually, and plans for phased capacity expansion.
- Pickkup operates an all-electric logistics fleet across the NCR, Chandigarh, and Mohali, and recently raised $500K in seed funding to scale operations and technology.
Strategic Outlook
This collaboration is expected to:
- Increase the adoption of EVs in India’s logistics sector.
- Reduce carbon emissions and increase last-mile delivery efficiency.
- Support India’s clean energy goals.
https://nsearchives.nseindia.com/corporate/CEBBCO_27052025185834_SEPRESSRELEASE27052025.pdf
