Company:Wardwizard Innovations & Mobility Limited

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Short description: Electric vehicle manufacturing company in India
Wardwizard Innovations & Mobility Limited
ward wizard
TypePublic company
BSE: 538970
Industry
Founded2016; 8 years ago (2016)
FounderYatin Gupte
Area served
India, Uganda, and Nepal
Key people
Yatin Gupte (Chairman)
Websitewww.wardwizard.in

Wardwizard Innovations & Mobility Limited is a publicly-held electric vehicle manufacturing company based in India. It is engaged in manufacturing eco-friendly electric scooters and vehicles. It operates in the electric vehicle manufacturing sector in multiple countries, including India, Uganda, and Nepal.[1][2][3]

It was founded in 2016 by Yatin Gupte and is headquartered in Vadodara, Gujarat. In 2021, it inaugurated a new manufacturing facility in Vadodara and the inauguration ceremony was conducted by Amit Shah, the Union Home Minister. In May 2023, WardWizard announced a partnership with the Dogra Regiment an infantry regiment of the Indian Army to establish a new unit.[4][5][6]

History

Wardwizard Innovations & Mobility was incorporated by Yatin Gupte in 2016.[7] In 2021, it inaugurated a new manufacturing facility in Vadodara the inauguration ceremony for the facility was conducted by Amit Shah, the Union Home Minister.[8] The company holds two brands: Joy e-bike and Joy e-rik. The company's range of electric scooters is assembled at its facility located in Vadodara.[7]

According to The Economic Times report, Wardwizard Innovations & Mobility Limited is the first company to be listed on the Bombay Stock Exchange under the electric vehicle manufacturing category.[9][10] In May 2021, Wardwizard Innovations & Mobility Limited started supplying units from India to Uganda.[1]

In October 2021, Wardwizard Innovations & Mobility Ltd inaugurated its first-ever experience centre in Pune. The inauguration ceremony was attended by Ajit Pawar, the Deputy Chief Minister of Maharashtra.[11]

In December 2021 The company signed MoU with the Government of Gujarat for land acquisition.[12][13] [14]

In 2022, Wardwizard Innovations & Mobility entered the fast-growing high-speed electric scooter segment. These models are named Wolf+, Gen Next Nanu+, and Del Go.[15][16]

In May 2022, Wardwizard Innovations & Mobility entered into a partnership with Sunkonnect, a renewable energy management consulting firm based in Singapore.[17] In the same year, Wardwizard Innovations & Mobility has entered into a partnership with Mangalam Industrial Finance to facilitate EV financing.[18]

According to a report by The Hindu, in November 2022, Wardwizard Innovations & Mobility Ltd formed a strategic partnership with iCreate to support and provide funding for electric vehicle (EV) start-ups in India.[19] In January 2023, Wardwizard Innovations & Mobility Ltd launched their latest high-speed electric scooter called Mihos at the Auto Expo 2023.[20]

In May 2023, Wardwizard announced a partnership with the Dogra Regiment to establish a new unit. The collaboration aims to offer specialized skill development and employment opportunities in the growing Electric Vehicle (EV) industry for retired army officers, including 'Agniveers.' Additionally, WardWizard Innovations has announced the establishment of an EV Centre of Excellence at Dogra Regimental Centre, Ayodhya Cantonment in Faizabad, Uttar Pradesh.[5][6]

In September 2023, Wardwizard Innovations & Mobility Limited appointed Tejas Mehta as CFO, Sanjay Sablok as president for Operations and Tarun Sharma as president of marketing & branding.[21][22]

In October, Wardwizard Innovations & Mobility Limited entered into a Memorandum of Understanding (MoU) with the Government of Gujarat during the Vibrant Gujarat Global Summit 2024, to invest Rs 20 billion in the development of an electric vehicle ancillary cluster by the year 2024.[23]

In November 2023, Wardwizard Innovations & Mobility Ltd and Triton EV, a US-based electric vehicle manufacturer, established a five-year Memorandum of Understanding (MoU). The collaboration is intended to contribute to the transformation of the electric vehicle sector in India and the United Arab Emirates.[24][25]

In December 2023, Wardwizard Innovations and UAE's BEEAH Group signed a Memorandum of Understanding (MoU) to collaborate on the manufacturing and sale of electric vehicles (EVs) in the GCC and African countries. The collaboration aims to utilize BEEAH Group's network in the GCC and African nations to facilitate sales within these regions.[26]

Production and infrastructure

The company's Vadodara plant has a production capacity of 9000 vehicles per month.[9] According to Economic Times report in September 2021 the company expand its annual production capacity to 200,000 units by establishing an assembly line at the Vadodara plant.[27]

The company invested approximately Rs 6.50 billion towards the manufacturing of advanced Li-ion cells and the development of related infrastructure.[28][29][30][31]

In September 2022, Wardwizard Innovations & Mobility established its first Global R&D headquarters in Singapore.[32]

In March 2023, Wardwizard Innovations & Mobility Limited began operating a lithium-ion battery assembly line with a 1 GWh capacity. This marked the initial phase of developing an electric vehicle (EV) ancillary cluster in Vadodara.[33][34]

References

  1. ↑ 1.0 1.1 "ET Auto". 2021-05-30. https://auto.economictimes.indiatimes.com/news/two-wheelers/motorcycles/wardwizard-lines-up-new-models-for-domestic-mkt-sets-eyes-on-overseas-expansion/83084389. 
  2. ↑ "Joy e-bike, WardWizard के इलेक्ट्रिक दोपहिया वाहनों की भारत में बढ़ी मांग, अक्तूबर महीने में 502 फीसदी ज्यादा हुई बिक्री – wardwizard continues with strong sales momentum of electric two-wheelers in october 2021" (in hi). 1970-01-01. https://navbharattimes.indiatimes.com/auto/car-bikes/wardwizard-continues-with-strong-sales-momentum-of-electric-two-wheelers-in-october-2021/articleshow/87488005.cms. 
  3. ↑ Desk, Times Drive (2022-01-06). "WardWizard to launch two made-in-India electric scooters this month". https://www.timesnownews.com/auto/bike-news/article/wardwizard-to-launch-two-made-in-india-electric-scooters-this-month/846861. 
  4. ↑ "Wardwizard Group ties up with Bajaj Allianz to offer Insurance policies to Joy e-Bike customers – ET Auto". 2021-06-15. https://auto.economictimes.indiatimes.com/news/two-wheelers/motorcycles/wardwizard-group-ties-up-with-bajaj-allianz-to-offer-insurance-policies-to-joy-e-bike-customers/83532694. 
  5. ↑ 5.0 5.1 Bureau, BL Chennai (2023-05-29). "Wardwizard Innovations Establishes EV Centre of Excellence in Collaboration with Dogra Regiment". https://www.thehindubusinessline.com/companies/wardwizard-establishes-ev-centre-of-excellence-for-defence-personnel/article66907714.ece. 
  6. ↑ 6.0 6.1 Standard (2023-05-30). "Wardwizard inks pact with Dogra Regiment to offer upskilling opportunities". https://www.business-standard.com/india-news/wardwizard-inks-pact-with-dogra-regiment-to-offer-upskilling-opportunities-123053000641_1.html. 
  7. ↑ 7.0 7.1 Narayanan, Rajkamal (2022-05-15). "Our goal is to create an ecosystem for electric vehicles — Yatin Gupte, Wardwizard". https://www.financialexpress.com/business/express-mobility-our-goal-is-to-create-an-ecosystem-for-electric-vehicles-yatin-gupte-wardwizard-2525636/. 
  8. ↑ Singh, Varun (2021-01-28). "Wardwizard Innovations & Mobility inaugurates new electric two-wheeler manufacturing facility in Vadodara". https://www.indiatoday.in/auto/latest-auto-news/story/wardwizard-innovations-mobility-inaugurates-new-electric-two-wheeler-manufacturing-facility-in-vadodara-1763680-2021-01-28. 
  9. ↑ 9.0 9.1 "Wardwizard aims to achieve 25 percent of overall EV Market in India – ET Auto". 2021-03-25. https://auto.economictimes.indiatimes.com/news/industry/wardwizard-aims-to-achieve-25-percent-of-overall-ev-market-in-india/81687649. 
  10. ↑ Mukherjee, Sharmistha (2021-11-06). "ET Auto". https://auto.economictimes.indiatimes.com/news/two-wheelers/scooters-mopeds/rising-fuel-prices-to-accelerate-the-conversion-to-e-mobility-in-the-two-wheeler-segment-wardwizard-ceo/87548017. 
  11. ↑ "EV maker WardWizard inaugurates co's exclusive retail store in Pune; plans 3 more in Maharashtra – ET Auto". 2021-10-23. https://auto.economictimes.indiatimes.com/news/two-wheelers/motorcycles/ev-maker-wardwizard-inaugurates-cos-exclusive-retail-store-in-pune-plans-3-more-in-maharashtra/87227260. 
  12. ↑ "Wardwizard and promoters acquire land to develop EV ancillary cluster in Vadodara – ET Auto". 2022-01-24. https://auto.economictimes.indiatimes.com/news/industry/wardwizard-and-promoters-acquire-land-to-develop-ev-ancillary-cluster-in-vadodara/89095403. 
  13. ↑ Bureau, BW Online (2023-07-11). "Wardwizard Signs MoU With The Government Of Gujarat For EV R D Center". http://businessworld.inhttps://www.businessworld.in/article/Wardwizard-Signs-MoU-With-The-Government-Of-Gujarat-For-EV-R-D-Center/20-12-2021-415357. 
  14. ↑ The Hindu Bureau (2022-01-25). "WardWizard to start work on EV ancillary unit". https://www.thehindu.com/business/Industry/wardwizard-to-start-work-on-ev-ancillary-unit/article38323867.ece. 
  15. ↑ "Wardwizard Innovations & Mobility's vehicle sales rise in June". 2022-07-02. https://timesofindia.indiatimes.com/auto/bikes/wardwizard-innovations-mobilitys-vehicle-sales-rise-in-june/articleshow/92619629.cms. 
  16. ↑ "WardWizard enters high-speed electric scooter segment; launches three models – ET Auto". 2022-02-12. https://auto.economictimes.indiatimes.com/news/two-wheelers/scooters-mopeds/wardwizard-enters-high-speed-electric-scooter-segment-launches-three-models/89516347. 
  17. ↑ Parikh, Niyati (2022-05-05). "Gujarat: WardWizard to set up Li-Ion Advance Cell mfg unit at Vadodara". https://energy.economictimes.indiatimes.com/news/power/gujarat-wardwizard-to-set-up-li-ion-advance-cell-mfg-unit-at-vadodara/91347540. 
  18. ↑ Desk, Express Mobility (2022-09-24). "WardWizard Mobility partners with Mangalam Industrial Finance for EV financing". https://www.financialexpress.com/business/express-mobility-wardwizard-mobility-partners-with-mangalam-industrial-finance-for-ev-financing-2689771/. 
  19. ↑ Bureau, BL Bengaluru (2022-11-22). "WardWizard Innovations partners with iCreate to fund EV start-ups in India". https://www.thehindubusinessline.com/companies/wardwizard-innovations-partners-with-icreate-to-fund-ev-start-ups-in-india/article66169287.ece. 
  20. ↑ "WardWizard Innovations and Mobility launches high-speed electric scooter Mihos". 2023-01-13. https://energy.economictimes.indiatimes.com/news/power/wardwizard-innovations-and-mobility-launches-high-speed-electric-scooter-mihos/96953836. 
  21. ↑ Desk, Express Mobility (September 22, 2023). "WardWizard appoints Tejas Mehta as CFO, Sanjay Sablok President for Operations". https://www.financialexpress.com/business/express-mobility-wardwizard-appoints-tejas-mehta-as-cfo-sanjay-sablok-president-for-operations-3252094/. 
  22. ↑ Bureau, BW Online. "Joy E Bike Appoints Tarun Sharma As President Of Marketing Branding". https://bwautoworld.businessworld.in/article/Joy-E-Bike-Appoints-Tarun-Sharma-As-President-Of-Marketing-Branding/31-08-2023-489600/. 
  23. ↑ Thapliyal, Aseem (2023-10-26). "Wardwizard Innovations shares zoom 13% amid market crash; here’s why". https://www.businesstoday.in/markets/company-stock/story/wardwizard-innovations-shares-rise-electric-vehicle-ancillary-cluster-403388-2023-10-26. 
  24. ↑ "Wardwizard Innovations & Triton EV forge strategic partnership for EV manufacturing in India and UAE". 1 Dec 2023. https://energy.economictimes.indiatimes.com/news/power/wardwizard-innovations-triton-ev-forge-strategic-partnership-for-ev-manufacturing-in-india-and-uae/105647710. 
  25. ↑ "Wardwizard Innovations signs MoU with US-based Triton EV". 1 Dec 2023. https://www.moneycontrol.com/news/business/wardwizard-innovations-signs-mou-with-us-based-triton-ev-11839611.html. 
  26. ↑ Balaji, Madhu (20 Dec 2023). "Wardwizard Innovations signs MoU with BEEAH Group; stock surges". https://www.thehindubusinessline.com/companies/wardwizard-innovations-signs-mou-with-beeah-group-stock-surges/article67656991.ece. 
  27. ↑ "ET Auto". 2021-09-28. https://auto.economictimes.indiatimes.com/news/two-wheelers/ev-maker-wardwizard-to-double-annual-production-capacity-to-2-lakh-units/86583164. 
  28. ↑ "ET Auto". 2022-05-29. https://auto.economictimes.indiatimes.com/news/auto-components/wardwizard-lines-up-rs-650-cr-investment-to-set-up-li-ion-plant-related-infra/91865896. 
  29. ↑ Jha, Shakti Nath (2022-05-06). "WardWizard plans to set up Li-ion advance cells manufacturing unit in Gujarat". https://www.financialexpress.com/auto/electric-vehicles/wardwizard-plans-to-set-up-li-ion-advance-cells-manufacturing-unit-in-gujarat/2515266/. 
  30. ↑ "Wardwizard Begins Operations At 1gwh Battery Plant". 2023-03-25. https://timesofindia.indiatimes.com/city/ahmedabad/wardwizard-begins-operations-at-1gwh-battery-plant/articleshow/98983857.cms. 
  31. ↑ Desk, Express Mobility (2022-05-05). "WardWizard plans to set up Li-ion advance cells manufacturing unit at its electric vehicle ancillary cluster in Vadodara". https://www.financialexpress.com/business/express-mobility-wardwizard-plans-to-set-up-li-ion-advance-cells-manufacturing-unit-at-its-electric-vehicle-ancillary-cluster-in-vadodara-2513771/. 
  32. ↑ "WardWizard inks pact with Singapore entity to firm up plans to produce Li-ion cells – ET Auto". 2022-05-04. https://auto.economictimes.indiatimes.com/news/auto-components/wardwizard-inks-pact-with-singapore-entity-to-firm-up-plans-to-produce-li-ion-cells/91318617. 
  33. ↑ "Wardwizard Innovations commences operations of in-house lithium-ion battery assembly line". 2023-03-25. https://energy.economictimes.indiatimes.com/news/power/wardwizard-innovations-commences-operations-of-in-house-lithium-ion-battery-assembly-line/98983111. 
  34. ↑ Standard (2023-03-24). "Wardwizard commences operations of lithium-ion battery assembly line". https://www.business-standard.com/article/news-cm/wardwizard-commences-operations-of-lithium-ion-battery-assembly-line-123032400569_1.html. 



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