Jitendra New EV Tech To Supply 12,000 EVs Worth Rs. 120 Cr To FAE Bikes

Electric two-wheeler manufacturer, Jitendra New EV Tech has signed a Memorandum of Understanding (MoU) with FAE Bikes, a last mile logistics company, to supply 12,000 electric two-wheelers. 

According to this new deal, the Nashik-based EV maker will provide the aforementioned number of units of the JMT 1000 3K e-scooter to FAE Bikes over a period of one year. The value of the deal is estimated to be approximately Rs. 120 crore.

The JMT 1000 3K makes use of a 1000 W motor that is powered by a 3.12 kWh battery. The electric scooter claims to deliver a riding range of 126 km on single charge and is capable of achieving a maximum speed of up to 52 km/h.

This partnership between Jitendra New EV Tech and FAE Bikes seeks to provide electric scooters on rent to customers who wish to either simply do a trial run of the scooter before committing to a purchase or those who want to embrace EVs albeit without acquiring a permanent new asset. Initially, FAE Bikes will offer these new JEV scooters to its customers across Bengaluru, Delhi NCR, and Hyderabad.