Electric two-wheeler maker WardWizard Innovations and Mobility on Friday reported that its sales figures saw a rise over two-fold to 7,123 units last month as compared with the same month last year. The seller of Joy e-bike had sold 3,290 units in November last year. Last month’s sales number is the company’s best-ever monthly performance till date.
The company attributed the rise in sales figures to customer purchasing sentiments inclining towards electric vehicles to meet their daily mobility needs. “With improved supply chain and consistent market expansion, we have been able to reach maximum customers, achieving another sales milestone,” said WardWizard Innovations & Mobility Chairman & Managing Director Yatin Gupte.
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The company is confident of carrying the same sales momentum in the coming months. “Our robust product portfolio and market presence have supported us to add new customers to the family,” Gupte added.
Earlier this year, the company lined up close to ₹650 crore investment for the manufacturing of Li-ion advance cells and related infrastructure. The Gujarat-based company, which sells electric two-wheelers under the Joy brand, plans to come up with an R&D centre and an assembly plant to set up the 1GWh cell production plant at its electric vehicle ancillary cluster in Vadodara.
The company has already already tied up with Singapore-based renewable energy management consulting firm Sunkonnect to do a feasibility study and identification of the potential partner for production processes. The company plans to invest around ₹600-650 crore to come up with the required infrastructure over the next one year or so.
First Published Date: 02 Dec 2022, 13:35 PM IST