WardWizard inaugurates its new Global Headquarters in Vadodara

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Source: Wardwizard Innovations and Mobility Ltd

The company sold 2,855 units of electric scooters and motorcycles in October 2021, registering a growth of 502% compared to October 2020, where sales stood at 474 units.

November 2021: Wardwizard Innovations and Mobility Ltd (BSE Code: 538970), one of the leading two-wheeler electric vehicle manufacturers (Brand ‘Joy e-bike’) has shifted to its new global headquarters in Vadodara, Gujarat. Spread over 20,000 sq ft, the new global headquarters in Vadodara is built with an investment of Rs.100 million. It is aimed at generating more opportunities and employment for local people. “We are excited to move to our official global headquarters,” said Yatin Gupte, Chairman & MD, Wardwizard Innovations & Mobility Ltd. “Making this move will improve efficiency, collaboration and cost-competitiveness, while providing an exceptional work environment for our employees.” The recent festival season has resulted in high demand in the market with the company selling 2,855 units of electric scooters and motorcycles. It has registered a growth of 502% compared to October 2020, where sales stood at 474 units.

Wardwizard has a state-of-the-art manufacturing facility in Vadodara, Gujarat, which has an annual production capacity of 200,000 electric two-wheelers in one shift. With the government’s support and consistent awareness campaigns on the adoption of sustainable mobility, Wardwizard has also observed high growth in terms of sales numbers. The company is committed to the Make-in-India programme and will be introducing 100% localised high-speed electric scooters soon.

Half Yearly Financial Results: The company has recorded the highest ever revenue at Rs. 45.05 crore in Half Year FY’22 vs Rs.10.42 crore in Half Year FY’21 with more than 7000 units of electric scooters and motorcycles sold in Half Year FY’22 vs 1677 units in Half Year FY’21. In comparison to annual figures of FY21, Wardwizard has already achieved the previous year’s figures in half year of FY22. The company has the projections of selling around 20K-25K units in the current financial year.