WardWizard Reports Sales Of 3,860 Electric Two-Wheelers
The company manufactures the Joy E-Bike range, and is set to launch the brand’s first-ever “made in India” high-speed electric scooters in January 2022.
WardWizard Innovations and Mobility Ltd., which manufactures the range of electric two-wheelers under the Joy E-Bike brand name, has reported sales of 3,860 units in December 2021. According to a statement, the company is witnessing the rapid growth of the electric two-wheeler segment, and registered a year-on-year growth of 548 per cent, compared to December 2020, when overall sales stood at 595 units. The company says that it has already sold more than 17,000 units (17,376) of electric scooters and electric motorcycles in the first three quarters of the current financial year (April to December 2021).
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This is a growth of 570 per cent, as compared to sales of the same period of the last financial year (April to December 2020), the company added. Sales for the third quarter (October to December 2021), crossed 10,000 units for the first time for WadWizard Innovations & Mobility Ltd.
In 2021, the company announced expansion of annual production capacity from 1 lakh units to 2 lakh units in a single shift with the new automatic assembly line at its manufacturing plant from October 2021. The company also signed a Memorandum of Understanding (MoU) with the Gujarat government with an investment of ₹ 500 crore for research and development of electric vehicles in Gujarat. The company inaugurated 20 new dealerships in Gujarat, entered the market in Assam with two dealerships in Guwahati, and opened three exclusive company-owned Experience Centres in Pune, Maharashtra.