WardWizard Innovations & Mobility Ltd. to Double the Production Capacity by October 2021

VADODARA:
WardWizard Innovations and Mobility Ltd. (BSE Code: 538970)– a leading manufacturer of electric two-wheeler brand ‘Joy e-bike’ today announced to set up an automatic assembly line at its Vadodara unit to double the production capacity.

Considering the growing demand for EVs, majorly driven by the electric two-wheelers, the company’s new automatic assembly line will become operational from October 2021, increasing its annual production capacity from one lakh units to two lakh units in a single shift. The production capacity can be further ramped up to 6 lakh units annually with three shifts depending on the market demand.

Another noteworthy fact is that the company is planning to expand its reach with more than 750 dealerships by the end of this financial year. At present, it has 400 dealerships across the country in tier-I, II and III cities.

In August 2021, WardWizard achieved its highest ever monthly sales of 2000 units and registered the order of more than 5000 units. As EVs are becoming essential, the company is further optimistic about achieving record-breaking numbers in the festival season.

Commenting on the expansion, Sheetal Bhalerao, Chief Operation Officer, WardWizard Innovations and Mobility Ltd, said, “We are committed to increasing the availability of Joy e-bike electric scooters and motorcycles across the markets. Increased awareness and push from the government has created the demand for electric mobility in India. As per our market study, most of the states in the northern region are adopting sustainable mobility. That’s why our prime focus is to strengthen our foothold in growing markets. We are also planning to introduce our new products by the end of this fiscal. An automatic assembly line will help to boost our production capacity. We are expecting the highest ever growth in the coming festive season.”