WardWizard clocks 127% yoy growth for June 2022; Sells 2,125 units of electric two-wheelers

4 Jul 2022 , 09:19 AM

WardWizard Innovations and Mobility Ltd, manufacturers of the country’s leading electric two-wheeler brand, "Joy e-bike" has clocked a growth of 127% in June’22 over the last year. The company sold 2,125 units of low-speed and high-speed electric two-wheelers in June’22 as against 938 units in June’21.

As per the press release statement by the company, "It is noteworthy that the company has already sold more than 8,000 units (8,267) of electric scooters and motorcycles in the first quarter of this financial year (April - June 2022), logging a growth of 338% as compared to the same period of last financial year (April- June 2021)."

Speaking on the sales performance and deliveries, Yatin Gupte, Chairman & Managing Director, Wardwizard Innovations & Mobility Ltd., said, “Electric two-wheelers are becoming part of a large number of households in both the urban and semi-urban cities. However, due to varied challenges related to the unavailability of raw materials, we are unable to meet the growing market demand.

Acknowledging the issues, we at Wardwizard are working towards smoothing our supply chain and reducing the waiting periods for our products. We have also started the deliveries of our high-speed electric scooters Wolf+ and Gen Next Nanu+ in a phased manner and logged the sales of more than 500 units across the states of Maharashtra, Gujarat, Rajasthan, etc.

In further phases we will expand our product reach to more states across India, adding new customers to our family.”

On Monday early morning trade, WardWizard Innovations was trading at Rs52.75 per share higher by 0.48% on the BSE.