Electric vehicle manufacturer Jitendra EV intends to invest up to Rs. 1.3 billion (US$ 15 million) over the next five years in research and development (R&D), product development, and the enhancement of manufacturing capacity, according to Co-Founder Samkit Shah.

The company, which previously showcased its Hydrix - a hybrid vehicle targeted for launch in 2028 - is also aiming to double its sales in the current financial year, up from a total of 4,200 units sold in 2024-25, Shah told PTI.

"In the next five years, an investment of approximately Rs. 800 million to Rs. 1 billion is planned for R&D and product development, along with an additional Rs. 250 million allocated for manufacturing," Shah stated.

He noted that the company is focusing on both high-speed and low-speed electric two-wheelers to address evolving customer requirements, including those related to last-mile delivery in the e-commerce segment.

On the product development front, Jitendra EV is currently working on the Hydrix - a hybrid Triquad scheduled for launch in 2028. This vehicle will be powered by both hydrogen and electricity, with an estimated range of 400 km and a top speed of 120 km/h.

The company is also preparing to introduce the Klasoo, a high-performance electric two-wheeler designed for modern urban commuting, later this year. In addition, it has launched the Yunik electric scooter, priced at Rs. 124,083, which offers a range of 118 km per charge and a top speed of 72 km/h. This model is aimed at young professionals and family-oriented riders.

Regarding manufacturing, Shah stated that the company's facility in Nashik currently has an installed capacity of 60,000 units per annum, which is scalable up to 96,000 units.

In line with network expansion plans and increased sales targets, the manufacturing capacity is expected to be scaled up. Shah further noted that Jitendra EV has already acquired a seven-acre plot of land in Nashik to meet future requirements.

When asked about the sales outlook, Shah projected that by 2028, monthly sales would range between 10,000 and 15,000 units.

In the financial year 2024-25, the company sold approximately 4,200 units, of which over 3,600 were low-speed and around 500 were high-speed electric scooters. In the financial year 2025-26, the company aims to double both of these figures.

The anticipated growth in sales will be supported by an expanded dealership network. Shah confirmed that an additional 100 dealers will be added during the year.

At present, Jitendra EV has 100 dealers operating across 25 cities.

The company's key focus states include Maharashtra, Gujarat, Tamil Nadu, Uttar Pradesh, Karnataka, and Delhi.