Jupiter Wagons arm signs MoU with Pickkup to boost EV adoption in logistics

Pickkup is a fast-growing EV-first logistics company with a presence across key NCR cities and tier-2 markets like Mohali and Chandigarh. Focused on electric mobility, it has a scalable delivery infrastructure with 3W and 4W commercial EVs, offering customised on-demand, corporate, and warehouse solutions.

The partnership aims to deploy 300 units of JEM TEZ, JEM's top-of-the-line electric light commercial vehicle, in Pickkup's growing EV fleet by the end of this year. The collaboration kicks off with the successful delivery of the first batch of JEM TEZ vehicles under the MoU, following extensive pilot runs that showcased the exceptional capability of delivering real-world performance, range reliability, and operational efficiency across both intra-city and inter-city routes.

The vehicles exhibited a consistent range of more than 190 km, reaching up to 220 km in a single charge across varying operating conditions ranging from heavy urban roads to intercity corridors such as Delhi to Chandigarh.

Vivek Lohia, managing director, Jupiter Group, stated, 'Our mission at Jupiter Electric Mobility is to enable logistics providers with next-generation electric vehicles that exceed expectations in performance, sustainability, and profitability as well. Our alliance with Pickkup is a strategic move towards achieving India's ambitious clean mobility goals, facilitating the mass adoption of electric commercial vehicles in the logistics ecosystem.

With Pickkup, we seek to transform last- and midmile logistics into a scalable, tech-enabled, and environmentally friendly ecosystem that fuels economic prosperity for operators while minimising carbon emissions. This partnership represents a strategic turning point in our journey to lead India towards clean transport and to help the logistics sector adopt a greener, smarter future.'

Ankush Sharma, co-founder and CEO of Pickkup, said, 'I'm genuinely impressed with JEM Tez, it has nailed real-time challenges in this segment by offering CCS2 charging compatibility and delivering 30% more range on a single charge, all while supporting a 1050 kg payload. This creates a strong niche in the market. We're now set to deploy these vehicles for intercity logistics, where they can run up to 250 km daily while enabling higher earnings potential, which is made possible now with JEM Tez.'

Jupiter Wagons (JWL) is a provider of comprehensive mobility solutions, with diverse offerings across freight wagons, locomotives, passenger coach accessories, braking systems, commercial vehicles, ISO marine containers, and products such as couplers, draft gears, bogies, CMS crossings, brake disc, brake system, wheels, axles, wheel sets, electric commercial vehicle (e-LCV) and lithium batteries.

The company's consolidated net profit fell 1.8% to Rs 103.26 crore on 6.4% decline in net sales to Rs 1,044.55 crore in Q4 FY25 over Q4 FY24.

The scrip shed 0.04% to settle at Rs 400.65 on Tuesday, 27 May 2025.

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