Jupiter Wagons shares surged 3% after its electric mobility arm, Jupiter Electric Mobility (JEM), signed a strategic MoU with Delhi-based logistics platform Pickkup. The partnership aims to accelerate clean mobility by deploying 300 units of JEM’s flagship electric light commercial vehicle, JEM TEZ, in Pickkup’s EV fleet by year-end. As of 10:24 AM, the shares were trading 2.73% higter at Rs 411.50.
Aligned with the PM e-DRIVE scheme and India’s clean mobility goals, the collaboration marks a significant step in decarbonising the logistics sector. The first batch of JEM TEZ vehicles has already been delivered following successful pilot runs, demonstrating real-world performance with a consistent range of 190–220 km on both urban and intercity routes, including Delhi to Chandigarh.
Pickkup, an EV-first logistics provider, operates in key NCR cities and tier-2 markets like Mohali and Chandigarh. With a scalable fleet of 3W and 4W electric vehicles, the company offers customised delivery and warehousing solutions. The tie-up enhances its operational capacity, driver income, and environmental impact.
JEM’s advanced EV manufacturing plant in Pithampur, Indore, has an annual production capacity of 8,000–10,000 e-LCVs, with plans for expansion. This initiative supports India’s self-reliant EV manufacturing push and reduces import dependency.
Jupiter Wagons opened at ₹408.45 today, reaching a high of ₹419.40 and a low of ₹408.10. The stock remains significantly below its 52-week high of ₹748.10 but well above the 52-week low of ₹270.05.
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