WardWizard registers sales of 30k units of electric two-wheelers in FY22; Stock spurts 2%

4 Apr 2022 , 01:46 PM

WardWizard Innovations and Mobility Ltd, manufacturers of the country’s leading electric two-wheeler brand Joy e-bike closed the fiscal year (FY’22) with the highest-ever sales of 30,761 units, registering a growth of 702% amidst all the challenges. The company had sold 3,834 units of electric two-wheelers in FY’21.

Continuing with the strong sales performance with its popular range of electric two-wheelers, the company clocked sales of 5,020 units in March 2022, registering a growth of 328%, as compared to March 2021, when the company had sold 1,174 units of electric two-wheelers.

Closing the fiscal year with the blockbusting sales performance, Sheetal Bhalerao, Chief Operations Officer, WardWizard Innovations and Mobility Ltd, said, “4s the fastest growing EV brand, we are committed to delivering quality and advanced technology products to meet the aspirations of our customers. The continuous growth in sales is the testimony of our buyers’ trust in us.

In FY’23, the company will remain devoted to investing in R&D, diversifying of product portfolio, and strengthening its market presence. With the fuel prices touching the sky, we are observing another fast shift toward electric two-wheelers and are confident to create another sales benchmark.”

In FY’22, the company achieved significant milestones in strengthening its position in the industry. It acquired 4 Million sqft of land to develop India’s First-Ever Electric Vehicle Ancillary Cluster in Vadodara to promote the production of necessary raw materials locally. Expanded the annual production capacity from one lakh units to two lakh units in a single shift with the new automatic assembly line. The company further launched three new high-speed electric scooters including its first fleet management model and achieved the sales mark of 5K for the first time in March 2022.

At around 1:49 PM, Wardwizard Innovations was trading at Rs78.50 per piece higher by 2.15% on Sensex.