WardWizard inaugurates its new Global Headquarters in Vadodara

WardWizard inaugurates its new Global Headquarters in Vadodara

The new global headquarter to facilitate new business opportunities and employment generation

Vadodara, 08 November, 2021:Wardwizard Innovations and Mobility Ltd (BSE Code: 538970) – one of the country’s leading two-wheeler electric vehicle manufacturer brands ‘Joy e-bike’ shifts to its new Global Headquarters in Vadodara.

· The New Global Headquarters is spread over20k sq ft

· New Global Headquarters in Vadodara was built with an investment of 100 million INR.

· The New Global Headquarters will generate 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.” He added

As this festival season bring in the much-awaited festive cheer resulting in high demand in the market, the company has sold 2,855 units of electric scooters and motorcycles, registering a growth of 502% compared to October 2020, where sales stood at 474 units.

Wardwizard have 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. Further, with the government’s support and consistent awareness campaigns on the adoption of sustainable mobility, Wardwozard has also observed high growth in terms of sales numbers. Company is committed to the Make-in-India programme and the company 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 nos. 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 this current financial year.

About WardWizard Innovations & Mobility Limited

WardWizard Innovations & Mobility Ltd is a leading auto manufacturing company in the Electric Vehicle (EV) segment under the brand name Joy E-Bike. Being the first listed entity on BSE in Electric Vehicle manufacturing, it is mainly focused on the growth potential in the Indian EV segment to provide clean and greener alternatives to the existing usage of mobility, aligned with its philosophy of driving a positive change. Through Joy E-Bikes, the Company has been providing a greener alternative to traditional fuel-driven bikes. Conversely, It has footprints in more than 25 major cities across India and aspires to boost this number throughout the country.