Saudi Arabia welcomes Wardwizard Innovations: New EV manufacturing plants to boost green mobility

Wardwizard Innovations & Mobility Limited (WIML), a leading name in the electric vehicle (EV) industry, has recently made headlines by securing a Letter of Intent (LOI) from His Royal Highness Prince Abdulaziz Bin Turki Bin Talal Bin Abdulaziz Al Saud. This significant endorsement marks the beginning of a strategic joint venture in Saudi Arabia, reflecting Wardwizard’s dedication to sustainable mobility and global expansion.

The newly announced joint venture will see the establishment of two major facilities in the Kingdom. The first facility will be an assembly plant focused on electric two-wheelers, three-wheelers, and four-wheelers, with plans for future expansion to include the production of electric buses. The second facility will be an EV cells plant dedicated to producing battery cells crucial for powering electric vehicles. This move is part of Saudi Arabia’s broader Vision 2030 initiative, which aims to promote sustainability and diversify the economy.

Before proceeding with this venture, a comprehensive feasibility study was conducted, confirming the project’s viability and its alignment with Saudi Arabia’s environmental and economic goals. The positive results of this study have further solidified Wardwizard’s decision to move forward with the joint venture, ensuring it supports the Kingdom’s vision for a greener future.

Yatin Gupte, Chairman and Managing Director of Wardwizard Innovations & Mobility Limited, expressed his excitement about the new partnership. “Receiving the Letter of Intent from His Royal Highness Prince Abdulaziz Bin Turki Bin Talal Bin Abdulaziz Al Saud is a remarkable honor. This joint venture not only underscores our technological capabilities but also highlights our commitment to Saudi Arabia’s sustainable development goals. We are confident that our advanced technologies and manufacturing expertise will significantly contribute to the Kingdom’s green transition.”

Wardwizard Innovations will bring its cutting-edge electric vehicle technologies and intellectual properties to the joint venture, enhancing its position in the rapidly growing EV market. The company’s expertise in innovative manufacturing processes is expected to play a crucial role in the success of the new facilities. This collaboration will not only strengthen the local EV market but also support Saudi Arabia’s efforts to build a more environmentally friendly transportation infrastructure.

As a leading manufacturer of electric vehicles, Wardwizard Innovations & Mobility Limited is known for its ‘Joy e-bike’ and ‘Joy e-rik’ brands. Being the first electric vehicle manufacturer listed on the Bombay Stock Exchange (BSE), the company has established a strong presence in India with over ten models in its portfolio, serving more than 400 major cities. The joint venture in Saudi Arabia aligns with Wardwizard’s vision of driving global growth and advancing sustainable transportation solutions.

This strategic initiative is set to have a significant impact on both the local and global electric vehicle markets. By establishing advanced manufacturing facilities in Saudi Arabia, Wardwizard Innovations will contribute to the Kingdom’s goals of reducing carbon emissions and promoting eco-friendly technologies. The collaboration highlights the growing importance of international partnerships in advancing green technologies and fostering global advancements in sustainable mobility.

Wardwizard Innovations’ joint venture in Saudi Arabia represents a major step forward in the global expansion of electric mobility. With the support of Saudi royalty and a commitment to sustainable development, this initiative is poised to drive innovation and growth in the electric vehicle sector, benefiting both the Kingdom and the broader international community.