Jitendra New EV Tech to supply 12,000 EVs worth INR 120 cr to FAE Bikes

Jitendra New EV Tech, one of the fastest growing EV brands in the country, 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 ₹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, both renowned for their significant contributions to India’s electric mobility movement, 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,