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Wardwizard Innovations dispatches over 3,800 units of electric vehicles in March 2024

Posted On : 2024-04-16 23:01:44( TIMEZONE : IST )

Wardwizard Innovations dispatches over 3,800 units of electric vehicles in March 2024

Wardwizard Innovations & Mobility Limited, one of the leading manufacturers of electric vehicles under the brands 'Joy e-bike' and 'Joy e-rik' dispatched 3,801 units of electric two-wheelers and 16 three-wheelers in March 2024. This marked a 1.5% growth compared to March 2023, when the company had sold 3,744 units of two-wheelers. The company also recorded a significant growth of 88% as compared to February when it sold 2,018 units.

Led by strong demand for its EV products and the rapid expansion of distributor showrooms nationwide, the company sold over 26,000 units (26,996) of electric vehicles, including twowheelers and three-wheelers, in the fiscal year (April'23- March'24). Throughout the year, the company inaugurated more than 150 distributor showrooms and intends to further expand its distribution network in FY25, aiming to make EVs accessible to everyone.

Mr. Yatin Gupte, Chairman and Managing Director of Wardwizard Innovations & Mobility Limited, said, "We thank our customers for their growing trust on us, enabling us to lead the e-mobility transition from the forefront. Being an emerging player in the ever-evolving transportation landscape, we prioritize delivering cutting-edge technology and quality products that empower our customers. In FY2024, we have achieved significant progress and reached some key milestones, including selling of 1 lakh electric two-wheelers. We showcased a ground-breaking hydrogen-powered e-scooter prototype at the Bharat Mobility event, expanding our horizons. Our strategic expansions both domestically and internationally, with a new assembly line in Deoghar, Jharkhand, and an MoU with the BEEAH Group for a plant in Sharjah, further strengthened our presence. The launch of our versatile Joy e-rik threewheeler diversified our product portfolio. The surge in sales growth reflects our customers' trust. Building on this momentum, FY2025 promises even greater innovation with aggressive R&D investments in next-generation technologies, fuelling a more diverse product portfolio and solidifying our leadership in the market."

Shares of Wardwizard Innovations & Mobility Ltd was last trading in BSE at Rs. 60.73 as compared to the previous close of Rs. 60.21. The total number of shares traded during the day was 484758 in over 3361 trades.

The stock hit an intraday high of Rs. 61.60 and intraday low of 59.14. The net turnover during the day was Rs. 29317394.00.

Source : Equity Bulls


WardwizardInnovationsandMobility INE945P01024 ElectricVehicles March2024 SalesVolume