Pesa and Jupiter Wagons to co-produce locomotives and passenger trains in India

Polish rolling stock manufacturer Pesa signed a cooperation agreement with Indian freight wagon builder Jupiter Wagons on 22 October, covering the joint production of locomotives and passenger trains in India based on Pesa's technologies.

The deal marks Jupiter Wagons' first move into passenger rolling stock. Until now, every partnership held by the Kolkata-area company has involved components for the freight wagon industry. The agreement also covers the joint development and manufacture of components for passenger rolling stock, aimed at both Indian and foreign markets, plus joint decarbonisation projects — including the design of hydrogen-powered vehicles.

What does the agreement cover?

The scope has three legs: vehicles, components and decarbonisation.

• Vehicles: joint production of locomotives and passenger trains in India, using Pesa's technology platforms.
• Components: co-development and co-manufacture of passenger rolling stock parts for Indian and export markets.
• Decarbonisation: joint projects including the design of hydrogen-powered vehicles.

Neither company has disclosed a production site, investment value, delivery timeline or order volume for the vehicle programmes. The agreement is a framework for cooperation rather than a signed rolling stock order, and no Indian operator has been named as an initial customer.

Who is Jupiter Wagons?

Jupiter Wagons ranks among India's largest freight wagon builders, but its track record outside the freight segment is narrow. Its most significant industrial partnership to date is with Slovakia's Tatravagonka in wheelset production.

The two companies have operated a wheelset plant in Aurangabad since 2024, with an annual capacity of 20,000 wheelsets — enough to outfit roughly 5,000 four-axle wagons a year. A second facility of the same specialisation is scheduled to launch in the eastern state of Odisha in 2027, with a planned annual capacity of up to 100,000 wheelsets. That is five times the Aurangabad output and would make it one of the largest wheelset plants serving the Indian market.

Earlier in 2026, Jupiter Wagons announced its entry into the EU wheelset market, extending its component business beyond domestic demand.

Why India, and why now?

Pesa has been building toward an Indian presence without a local manufacturing foothold. CEO Krzysztof Zdziarski framed the partnership as the missing piece: "India is one of the most attractive markets in the world. We have been watching it for years, and now we are gaining a partner with whom we can jointly carry out projects and deliver vehicles to Indian operators. This could become one of our most important markets outside Europe."

The financial groundwork predates the agreement. Pesa previously secured €1.6bn in financing — roughly 7bn złoty — earmarked for enhancing production, research and development, and supporting new contracts and export orders. That facility gives the Polish manufacturer capacity to fund technology transfer and localisation in India without relying solely on contract-backed cash flows.

What remains unverified?

The announcement is a supplier statement, and several claims await confirmation against firm fleet plans. No Indian state operator or private rail company is named as a launch customer. The hydrogen vehicle commitment carries no timeline, prototype date or funding figure. And Jupiter Wagons' passenger-sector capability is untested — the company has never built a passenger vehicle, which makes Pesa's technology transfer the load-bearing element of the plan.

The Aurangabad and Odisha wheelset plants, by contrast, are concrete: one operating since 2024 at 20,000 wheelsets per year, one scheduled for 2027 at up to 100,000. Together they would give the partnership a domestic components base exceeding 120,000 wheelsets annually.

Implementation details — plant location, localisation percentages, first delivery dates and certification pathway — are expected to define whether the 22 October framework converts into production contracts.