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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 ...