According to a report from consulting firm RBSA Advisors, the electric vehicle market in India appears to be picking up steam, with a CAGR of 90 per cent expected between 2021 and 2030
Auto and railway components maker Jupiter Wagons Ltd is entering the electric mobility market with the launch of ‘Jupiter Electric Mobility’ (JEM) focusing on commercial EV vehicles.
In a statement, the company said that it has formed a joint venture with EA GreenPower Private Limited, a wholly-owned subsidiary of GreenPower Motor Company Inc, a publicly listed company 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. They also intend to shift their manufacturing hub to India from China and export from there to the global markets, the statement added.
According to a report from consulting firm RBSA Advisors, the electric vehicle market in India appears to be picking up steam, with a CAGR of 90 per cent expected between 2021 and 2030.
JEM will work with GreenPower Motor to undertake end-to-end production in India and establish service facilities in key markets to expand to after-sales requirements for a seamless customer experience.