WardWizard Innovations and Mobility Ltd, manufacturers of the country's leading electric two-wheeler brand 'Joy e-bike' sold 2,055 units of electric two-wheelers in May 2022. With that, the company has clocked a growth of 329% as compared to May'21, when the company had sold 479 units.
Inspired by the growth in its low-speed category, WardWizard recently forayed into the highspeed scooter segment with Wolf+, Gen Next Nanu+ and fleet management electric scooter Del Go. The brand intends to cater to all kinds of electric mobility requirements in the country with this expansion.
Speaking on the sales performance and expansion plans, Mr Yatin Gupte, Chairman & Managing Director, Wardwizard Innovations & Mobility Ltd., said, "As the demand for electric mobility witnesses substantial growth across the country, we at WardWizard are also expanding our operations. With our entry into the high-speed scooter segment, we are focusing on this category too. We have streamlined and strategised our production and beginning with the deliveries of our new high-speed scooter models in a phased manner from June'22. The production of these models has already begun at our Vadodara factory. With the uptick in demand for our models across all our touch points, the intent is to reduce the waiting period. With positive market sentiment and trust for our electric two-wheelers, we continue to add new customers to our family."
In the month of May, WardWizard had further signed a memorandum of understanding (MOU) with Singapore-based renewable energy management consulting firm Sunkonnect, to set up a Li-ion advance cells manufacturing unit at its electric vehicle ancillary cluster in Vadodara. The association is aimed at facilitating a feasibility study and identification of potential partners.
The company has also participated in and showcased the entire range of electric two-wheelers at the Electric Vehicle Exposition 2022 in Bangalore and India Auto Show 3.0 in Mumbai.
Shares of Wardwizard Innovations & Mobility Ltd was last trading in BSE at Rs. 62.80 as compared to the previous close of Rs. 62.05. The total number of shares traded during the day was 787413 in over 4806 trades.
The stock hit an intraday high of Rs. 64.80 and intraday low of 61.55. The net turnover during the day was Rs. 49814742.00.