Wardwizard Innovations & Mobility reports significant growth in EV sales
Wardwizard Innovations & Mobility Limited, a leading manufacturer of electric vehicles, has reported a substantial increase in sales, dispatching 3,801 electric two-wheelers and 16 three-wheelers in March 2024. This represents a growth of 1.5% compared to March 2023 and an 88% increase from February 2024. The company’s products, sold under the brands ‘Joy e-bike’ and ‘Joy e-rik’, have seen a total of 26,996 units sold in the fiscal year from April 2023 to March 2024.
Throughout the fiscal year, Wardwizard Innovations & Mobility Limited expanded its distribution network by inaugurating over 150 distributor showrooms nationwide. This expansion aims to make electric vehicles (EVs) accessible to a broader audience and cement relationships at the district and Taluka levels, enhancing supply chain efficiency and customer service.
The company also marked significant milestones in product innovation and technological advancements. A highlight of the year was the unveiling of a hydrogen-powered e-scooter prototype at the Bharat Mobility event, signaling a bold step into future propulsion technologies. Additionally, the rollout of its 100,000th electric two-wheeler from its state-of-the-art manufacturing plant in Vadodara marked a significant achievement.
Wardwizard Innovations & Mobility Limited has been active in forming strategic alliances to strengthen its market position and expand its global footprint. Notable partnerships include a Memorandum of Understanding (MoU) with the Government of Gujarat for a Rs. 2,000 crore investment in an Electric Vehicle Ancillary Cluster and collaborations with U.S.-based Triton EV for manufacturing battery-operated trucks for India and the UAE.
The company also launched new assembly lines, such as the one in Deoghar, Jharkhand, to meet rising demand and commenced the delivery of its new models, MIHOS and Joy e-rik, across Gujarat and Maharashtra from April 2023.
In its efforts to promote sustainable environmental practices, Wardwizard Innovations & Mobility Limited has engaged in various community-focused initiatives. These include partnerships with the Dogra Regiment to establish an EV Centre of Excellence in Uttar Pradesh, which aims to provide training and employment opportunities in the EV industry for ‘Agniveers’ and retired army personnel.
The company also collaborated with Gramin Sevikas and the United Nations Development Programme (UNDP) to empower communities around Birsa Munda Airport, Ranchi, by providing them with electric scooters, thus fostering resilience and sustainable development.
With its aggressive R&D investments and a diverse product portfolio, Wardwizard Innovations & Mobility Limited is poised for even greater innovation and leadership in the electric vehicle market. The company’s robust performance and strategic initiatives reflect a strong commitment to advancing e-mobility and environmental sustainability.
Wardwizard’s dynamic approach to market expansion, innovative product development, and strategic partnerships exemplifies a successful model in the rapidly evolving electric vehicle sector. Their focus on both technological advancement and community engagement positions them well for continued growth and leadership in green mobility.