Joy E-bike evolves Distribution Channel to boost EV Sales, Deep Bharat Connect

Giving a major boost to its distribution network, India's leading twowheeler EV manufacturer Wardwizard Innovations and Mobility Ltd. has announced to restructure its distribution-dealer model and establish 150 'Distributor Showrooms' at the district level in order to cement its relationships with Taluka-level Dealers. These showrooms will ensure efficient supply chain management for the distributors and dealers, and increase the ease of getting vehicles for customers.

The company currently has more than 600 touch-points in the country, and the process of establishing new distribution models aims to promote the high-performing taluka dealers to the next level of District Distributors. The decision has been taken by the management of the company where the opportunity of becoming a distributor would first be given to the existing dealers who supported Joy e-bike in becoming a reputed brand in the country. The number of distributors will vary basis population and demand in the district. The change has been pre-scheduled by a year to meet the continuously growing demand for the company's products.

Speaking about the decision, Yatin Gupte, Chairman & Managing Director, Wardwizard Innovations & Mobility Ltd, said, "Owing to the high demand of our vehicles, we decided to pre-schedule the advancement of our distribution model to bridge the demand and supply gap, and elevate customer-experience. The process of evaluation has already been initiated, and we aim to develop 150 distributor showrooms by September this year. Our loyal and high-performing dealers will be promoted as Distributors who will act like the frontline company representatives at the district level. We intend to make our products easily accessible to all in order to push India's transition to EVs."

With more than 10 models in its portfolio in both high and low-speed categories, the company has established a strong presence in more than 55 major cities across India and aspires to reach nook and corner of the country. It has recently commenced the delivery of its new electric two-wheeler MIHOS and electric three-wheeler Joy e-rik, in a phased manner across Gujarat and Maharashtra.

Shares of Wardwizard Innovations & Mobility Ltd was last trading in BSE at Rs. 51.23 as compared to the previous close of Rs. 51.21. The total number of shares traded during the day was 425604 in over 1619 trades.

The stock hit an intraday high of Rs. 51.95 and intraday low of 50.72. The net turnover during the day was Rs. 21824944.00.

Source : Equity Bulls

Keywords

WardwizardInnovationsandMobility INE945P01024 DistributionModel DeepBharatConnect EVSales