WardWizard clocks 70% yoy growth for Sept 2022; Sells 4,261 units of electric two-wheelers

4 Oct 2022 , 09:16 AM

WardWizard Innovations and Mobility Ltd — India’s leading manufacturer of electric two-wheelers brand ‘Joy e-bike’, has sold 4,261 units of electric two-wheelers in September 2022, delivering the growth of 70%, almost double the growth as compared to September 2021.

As per the filing, amid the festive season, the company has observed a month on month growth of 146% as compared to August’22, when the company had sold 1,729 units.

Speaking on the sales performance for the month of September, Yatin Gupte, Chairman & Managing Director, WardWizard Innovations and Mobility Ltd, said, “With the festive cheer around and positive customer sentiments, there is robust demand in the market. As the infrastructure for electric mobility continues to improve coupled with a better supply chain, we are witnessing high demand for our products across all our touchpoints.

Backed by the festive season and the continuous need for personal mobility, we are further expecting strong retail. Solidifying our presence not only in the domestic, but even in the global markets, we have already begun sales of our electric two-wheelers in Nepal in September and exploring new opportunities in other global markets. Looking at the current market potential, we are optimistic that the market is going to sustain the momentum.”

With the positive customer sentiments and the ease of supply chain issues, the company has clocked the sales mark of 8,448 units in Q2 of FY23, translating into a growth of 55% over Q2 of FY’22, when the company had sold 5,446 units of electric two-wheelers.

On Tuesday early morning trade, WardWizard innovations was trading at Rs53.80 per share higher by 2.38% on the BSE.

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