CMP: ₹400.70 | Sector: EV + Mobility Infra | Deployment: 300 JEM TEZ e-LCVs | Partner: Pickkup Logistics
🚚 At a Glance
Jupiter Electric Mobility (JEM), the EV arm of Jupiter Wagons Ltd, has signed a strategic MoU with Delhi-based EV logistics company Pickkup to deploy 300 JEM TEZ electric light commercial vehicles (e-LCVs) by the end of 2025.
The partnership aims to decarbonise India’s last- and mid-mile logistics by combining JEM’s vehicle engineering with Pickkup’s scalable green delivery model.
🔧 What’s Inside the Deal?
| Detail | Description |
|---|---|
| Number of Vehicles | 300 units of JEM TEZ e-LCV |
| Range Performance | 190–220 km per charge (real-world) |
| Payload | 1050 kg |
| Charging Compatibility | CCS2 fast charging standard |
| Initial Delivery Status | ✅ First batch already delivered |
| Deployment Area | NCR cities + Tier-2 hubs like Chandigarh, Mohali |
| Timeline | Full fleet rollout by December 2025 |
🧠 EduInvesting Take
EV hype is everywhere, but actual fleet deployment is the real metric. JEM and Pickkup are not just talking — they’re delivering.
Here’s why this MoU matters:
- 🏭 300 commercial EVs = ₹30–40 Cr+ in topline value, assuming ~₹10–13L per vehicle
- 🌱 Strong alignment with PM e-DRIVE and FAME III clean mobility missions
- 🧪 Vehicles have cleared pilot testing in real delivery conditions across city and highway
- 🔌 CCS2 charging + payload capacity gives JEM Tez a niche in long-range urban logistics
- 💼 Repeat deployment from Pickkup could open B2B channels with BigBasket, Blinkit, Zepto, etc.
🚛 About JEM TEZ — The e-LCV in Focus
| Spec | Value |
|---|---|
| Type | Electric Light Commercial Vehicle (eLCV) |
| Payload Capacity | 1050 kg |
| Real-World Range | 190–220 km per charge |
| Charge Port | CCS2-compatible |
| Segment Competitor | Euler HiLoad, Tata Ace EV, Omega Seiki |
| Manufacturing Facility | Pithampur, Indore |
| Production Capacity | 8,000–10,000 e-LCVs annually |
The Pithampur facility gives localisation advantage and room for scaling up.
🛠️ Pickkup: India’s EV-First Logistics Startup
| Founded | 2021 (Delhi HQ) |
| Focus | 100% EV logistics: 3W & 4W |
| Presence | NCR, Chandigarh, Mohali |
| Business Models | B2B, On-demand, Corporate, Warehousing |
| Funding | $500K seed (Feb 2025, led by WFC) |
| Completed Deliveries | 150,000+ green kms |
| Team Size | 100+ people |
The MoU helps Pickkup expand intercity routes and create higher earnings potential for its driver-partners.
🧮 Market Opportunity
| Segment | TAM Estimate (India, 2025) | Growth Trigger |
|---|---|---|
| Last-mile e-LCVs | ₹10,000+ Cr | E-commerce, FMCG, groceries |
| Intercity e-LCVs | ₹6,000 Cr | Hub-to-spoke logistics |
| State EV Mandates | 20+ states with policies | Road tax waivers, FAME III |
JWL’s early entry via JEM could establish leadership in the fleet-grade EV segment — far ahead of peers like Ashok Leyland, Mahindra or Tata in this particular payload-to-range ratio bracket.
📈 Market Reaction
- Stock flat at ₹400.70, down 0.10% — but underlying narrative is strengthening
- With this MoU + confirmed delivery underway, Street will look at:
- Revenue visibility from EV division
- Repeat contracts from logistics players
- Plant utilisation % at Pithampur
🧨 Risks to Watch
- Fleet operators may delay bulk procurement if FAME III subsidies don’t materialize quickly
- EV infra (charging stations) remains sparse in Tier 2/3 cities
- Competition heating up in e-LCV segment from new entrants & Chinese tech
🏁 Final Word
This isn’t another EV gimmick — this is 300 units booked, real-world tested, and rolling on the roads. 🚛⚡
With this Pickkup tie-up, Jupiter Wagons’ EV subsidiary is quietly shifting gears — from rail legacy to road-scale clean mobility.
And in a market full of EV PowerPoints, JEM is delivering payloads.
🗓️ Published: May 28, 2025
✍️ By: Prashant Marathe
Tags: Jupiter Wagons EV, JEM Tez Launch, Pickkup Logistics MoU, 300 eLCV Order, CCS2 eLCV India, Electric Logistics India, EduInvesting, EV Stocks India
