Despite the unprecedented challenges due to the second wave of COVID-19, WardWizard Innovations and Mobility Ltd (BSE Code: 538970) – one of the leading manufacturers of electric two-wheelers brand ‘Joy e-bike’ closed the month of June 2021 with a positive sales momentum.
Backed by the growing demand for electric two-wheelers and the need for personal mobility, WardWizard Innovations & Mobility has sold 938 units, registering a growth of more than 310%. The company had sold 223 units in June 2020.
The company has further observed a strong rebound of sales with a growth of 91% as compared to last month (May 2021) where the sales stood at 479 units.
Witnessing another boost and a rise in demand for electric two-wheelers across the country for both low and high-speed models, the company has further clocked the sales of 1,889 units in the Q1 (April-June) of FY’22.
Observing a strong rebound in the business, Mrs Sheetal Bhalerao, COO – WardWizard Innovations and Mobility Ltd, said, “With the subsidies and incentives announced by FAME II and later by the Gujarat government, there is a sudden rise in demand for electric vehicles in the country. As the fuel prices continue to increase, going above Rs.100 in many states, there is a quick shift by the customers for both high and low-speed models. We are further witnessing a strong rebound in the business with the ease of COVID-19 related restrictions as the cases continue to dip across the states. All our touchpoints are now fully functional following all the state specific protocols. Going with the same positive notion, we are confident that the demand will keep gathering robust momentum month-on-month.”
About WardWizard Innovations & Mobility Limited
WardWizard Innovations & Mobility Ltd is a leading auto manufacturing company in the Electric Vehicle (EV) segment under the brand name Joy E-Bike. It also caters to the home appliance market via its brand Vyom Innovation. Being the first listed entity on BSE in Electric Vehicle manufacturing, it is mainly focused on the growth potential in the Indian EV segment to provide clean and greener alternatives to the existing usage of mobility, aligned with its philosophy of driving a positive change. Through Joy E-Bikes, the Company has been providing a greener alternative to traditional fuel-driven bikes. Conversely, Vyom Innovations’ focus is to provide consumers with energy-efficient home appliances that are also aimed at a greener ecosystem. It has footprints in more than 25 major cities across India and aspires to boost this number throughout the country.