WardWizard Innovations rises on plans to set up R&D headquarter in Singapore

13 Sep 2022 , 03:36 PM

The company said that it will establish the centre and global sales office under its wholly owned subsidiary Wardwizard Global Pte, in Singapore. The company has taken this decision keeping into consideration the continuous rise in demand for electric mobility and the need to develop products holistically for enhanced safety. The facility will focus on research and development of two, three, and four-wheelers along with the development of technologically advanced EV products. The company will further expand its scope of research on cell chemistry, pack assembly, battery management systems, motors, and other EV components. It will also put emphasis on enhancing safety measures and developing new battery standards together with leading certification agencies for enhanced safety. Singapore-based Sunkonnect will be the technical knowledge partner at the centre. The centre will be headed by Lakshman Gurazada as the director of operations. The R&D headquarter will also work towards understanding the requirements of the local market in Southeast Asia and developing the products according to the last mile delivery operators. The company will also collaborate with leading global research institutions and companies in battery technology across Southeast Asia. Yatin Gupte, chairman & managing director of Wardwizard Innovations & Mobility said, ?The mobility sector is evolving at a rapid pace globally due to increased emphasis on sustainability. Electrification of the sector will pave the way for creating a safe and secure future for the present and future generations. Our Singapore-based new R&D centre will play a vital role in the evolution of the sector with its unparalleled research and innovation ability.? WardWizard Innovations & Mobility is a auto manufacturing company in the electric vehicle (EV) segment under the brand name Joy E-Bike. The companys net profit surged to Rs 2.06 crore in the quarter ended June 2022 as against Rs 0.71 crore during the previous quarter ended June 2021. Sales jumped 377% to Rs 54.66 crore in Q1 FY23 from Rs 11.46 crore in Q1 FY22. Powered by Capital Market – Live News