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. The value of the deal is estimated to be approximately INR 120 crore.
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 one year. This partnership between Jitendra New EV Tech and FAE Bike seeks to provide electric scooters for rent to customers.
Initially, FAE Bikes will offer these new JEV scooters to its customers across Bengaluru, Delhi NCR, and Hyderabad, noted Nigam Krishna, Co-founder, FAE Bikes. He said, “This deal with the indigenous EV brand is a crucial step in FAE Bikes’ endeavour to expand the availability of its offerings to a larger customer base and also boosts our goal to drive increased EV usage in India.”
JMT 1000 3K EV comes with a 1,000W motor powered by a 3.12 kWh battery. The electric scooter claims to deliver a riding range of 126 km on a single charge and can achieve a maximum speed of up to 52 km/h.