Jupiter Wagons share price rose by 4.71% to ₹419.4 on May 28 as of 10:51 AM after its electric vehicle arm announced a new partnership. The stock later settled 2.6% higher at ₹411, outperforming the Nifty50, which was down 0.17%.

The rally follows news of a collaboration with Pickkup, a Delhi-based logistics company. Shares have now climbed nearly 25% from their recent low of ₹327 and are up 17.8% year-to-date, compared to a 4.7% rise in Nifty50. The company’s current market cap stands at ₹17,446.87 crore.

EV Arm Signs MoU with Pickkup

Jupiter Electric Mobility (JEM), the electric vehicle arm of Jupiter Wagons, has entered into a Memorandum of Understanding (MoU) with Pickkup. As part of the agreement, Pickkup will integrate 300 units of JEM TEZ, JEM’s electric light commercial vehicle, into its fleet by the end of 2025.

This move aligns with India’s green mobility goals and supports the PM e-DRIVE scheme, which promotes EV adoption.

Pilot Testing Successful

The collaboration kicked off with the initial delivery of JEM TEZ electric vehicles. These EVs were tested through pilot runs and showed strong performance, delivering over 190 km range per charge, and in some cases, up to 220 km.

Management's Vision

Vivek Lohia, Managing Director of Jupiter Group, stated, “Our goal is to provide advanced electric vehicles that help logistics providers boost sustainability and performance. This partnership is a key milestone toward a cleaner, smarter transport future.”

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About Jupiter Wagons

Jupiter Wagons is a prominent provider of mobility solutions, engaged in the manufacturing of:

• Freight wagons
• Locomotives
• Commercial vehicles
• ISO marine containers
• Rail components like couplers, bogies, wheels, axles, and more

Its facilities are spread across Kolkata, Jamshedpur, Indore, Jabalpur, and Aurangabad, with full backwards integration in foundry operations.

It serves industries including railways, logistics, defence, automotive, and infrastructure, with major clients like Indian Railways, Ministry of Defence, Tata Motors, GE, and Volvo Eicher.

Conclusion

Jupiter Wagons' strategic EV partnership with Pickkup highlights its commitment to innovation and sustainability. With strong market performance and a focus on clean mobility, the company is well-positioned for future growth in the electric logistics space.

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