Wardwizard Innovations & Mobility Ties Up with Bajaj Allianz to Offer Insurance Policies to Joy e-Bike customers

Wardwizard Innovations & Mobility Limited (BSE Code: 538970), manufacturers of innovative electric bikes under the brand name Joy e-Bike, and Bajaj Allianz, India's leading private general insurance company, have joined hands to offer electric two wheeler insurance policies to Joy e-Bike customers. They can now avail of insurance benefits from Bajaj Allianz on their Joy e-Bike.

Policy consists 1+4 years duration, where 01 year coverage for the entire vehicle with 0 depreciation and rest 04 years covers TPT (Third Party Insurance). Hence the end user/customer will get a total 05 years for TPT coverage. The End user/customer will get coverage of INR 15 lakh for his/her personal insurance. The End user/customer will get RCA (Roadside Assistance) coverage for the first 01 year.

Bajaj Allianz will leverage Joy e-bike's vast dealership network (over 300 dealerships currently) across India, to offer customers simple, end to end, host of insurance COoverage products aimed at ensuring superior customer experience.

Speaking of the new partnership, Mr Yatin Gupte, Chairman and Managing Director, Wardwizard Group said, "We are happy to announce this association. We can now offer our customers more support and make them believe in our products even more. While insurance on electric vehicles in the two-wheeler category is not mandatory in India, the risks associated with them are limited and hence insuring ebikes is not expensive. The costs outweigh the benefits, and with tie-ups like this between Wardwizard Group and Bajaj Allianz, customers can expect to get some of the best deals in the country."

Wardwizard Innovations & Mobility, the first-ever company listed on BSE under the electric vehicle category, has a latest product line-up of Joy e-bike, a frontrunner in the electric bike space consisting of four new high-speed e-bikes - Hurricane, Thunderbolt, Skyline and Beast. Known as Joy e-Bike Supers, these four e-bikes are highspeed and packed with the latest EV technology along with strong loT sensors and Artificial Intelligence. The company recently revealed the prices starting from Rs. 2.29 lakh.

Wardwizard started transforming India's two-wheeler segment by manufacturing innovative electric bikes under the brand name Joy e-bike. They entered the market with two low-speed models Nanu E-Scooter Honeybee and Nanu E-Scooter Butterfly. Within no time, Joy e-bike has become the first-ever electric bike manufacturing brand to introduce 8+ EV models in the market, including 4 high-speed offerings.

In 2019 they introduced Gen Nxt Nanu e-scooter, Wolf, Glob, Monster, which require no license or registration. The first high-performance offering- the E-Monster, was launched in the summer of 2020. In 2021, Wardwizard has raised the bar by launching the Joy e-bike Supers.

Shares of Wardwizard Innovations & Mobility Limited was last trading in BSE at Rs.71.95 as compared to the previous close of Rs. 71.1. The total number of shares traded during the day was 40602 in over 580 trades.

The stock hit an intraday high of Rs. 74 and intraday low of 70. The net turnover during the day was Rs. 2923252.

Source : Equity Bulls

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