Jupiter Wagons shares jump 3% after company's arm signs MOU with Pickkup
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.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at BusinessUpturn.com
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