Wardwizard Innovations & Mobility Limited (WIML), one of the leading manufacturers of electric two-wheelers under the brand ‘Joy e-bike’ and threewheelers under the brand ‘Joy e-rik’ in India, today inaugurated its new assembly line facility for electric two-wheelers in Deoghar, Jharkhand.
The inauguration ceremony was commenced in the presence of Dr. Nishikant Dubey, Member of Lok Sabha from Godda Constituency, Mr. Yatin Gupte, Chairman & Managing Director, WIML, Mr. Alok Jamdar, Vice President-Production, WIML and the members of new product development team along with other dignitaries.
The new facility will be an extension to the currently operating factory in Vadodara, Gujarat and is spread across the area of 15,000 sq. ft. The company will commence the assembly of its high and low speed electric two-wheelers at the new facility with the initial annual target of more than 20,000 units to cater to the growing demand of the Eastern and Northern region of India along with export market in Nepal. Furthermore, the new facility will not only help in generating employment but also provide industry-specific training to the workers that shall help them in understanding the operations better.
Commenting on this achievement, Mr. Yatin Gupte, Chairman & Managing Director of Wardwizard Innovations & Mobility Limited said, “We are pleased to inaugurate our new facility with an assembly line in Deoghar, Jharkhand, to strengthen our commitment in advancing electric mobility in India. This expansion reinforces our dedication to meeting the growing demand for sustainable mobility solutions and underscores our mission to drive innovation in the electric vehicle sector. We also thank all the concerned departments of the Government of Jharkhand for their support. The company is targeting a significant increase in electric two-wheeler sales in the coming two to three years. The northern and eastern regions have been very important markets for electric two-wheelers. We are seeing high demand from Jharkhand, Bihar, Odisha, and West Bengal, along with the north-eastern regions. Deoghar is also a strategic location for us due to its proximity to the other states.”
Wardwizard Innovations & Mobility Limited has also showcased its commitment to innovation at the recently concluded Bharat Mobility Global Expo 2024. At the expo, the company unveiled the concept of its first hydrogen-powered electric two-wheeler and showcased its current product line-up, including high and low-speed models and the electric three-wheeler under the brand name ‘Joy e-rik.’ The company has also achieved a significant milestone by surpassing 100,000 electric two-wheeler sales in India. The company commemorated this achievement by rolling out its 100,000th unit, Mihos, from its state-of-the-art manufacturing plant in Vadodara.
Shares of Wardwizard Innovations & Mobility Ltd was last trading in BSE at Rs. 70.45 as compared to the previous close of Rs. 70.11. The total number of shares traded during the day was 576296 in over 3678 trades.
The stock hit an intraday high of Rs. 72.00 and intraday low of 70.01. The net turnover during the day was Rs. 40986138.00.
