The two-wheeler EV space in India is getting heated up in more ways than one. WardWizard Innovations and Mobility, which sells electric two-wheelers under the Joy brand, has been in the periphery of the market. The BSE-listed company now wants to get into the thick of it. And will pump in around Rs 650 crore investment for the manufacture of Li-ion advance cells and related infrastructure. The company will come up with an R&D centre and an assembly plant to set up the 1GWh cell production unit at its electric vehicle ancillary cluster in Vadodara.
Gujarat-headquartered company has already tied up with Singapore-based renewable energy management consulting firm Sunkonnect to do a feasibility study and identification of the potential partner for production processes.
A PTI report had WardWizard Innovations and Mobility Managing Director Yatin Gupte saying that the company plans to come up with the required infrastructure over the next 18 months.
WardWizard plans new passenger EV
The company said the most pressing concern for electric vehicle manufacturers may be a lithium supply crunch. "We are working on establishing a lithium-ion advanced cell manufacturing unit in Gujarat. As part of the plan’s implementation, we have signed a Memorandum of Understanding (MoU) with Sunkonnect," it said.
The latter will form a committee of experienced scientists, engineers, and analysts to evaluate and identify the professional partner, as well as develop the roadmap for establishing the 1 GWh cell production plant at our ancillary cluster in Vadodara, Gujarat.
Yatin Gupte said "as the safety and security of our customers are paramount for us, we are integrating cutting-edge technologies to enhance quality and promote the adoption of green mobility in the country."
Dr. Avishek Kumar, Founder, SunKonnect, said, "under the MoU, we will work with WardWizard to identify the partner equipped with the latest technology and high standards to manufacture Li-ion advanced cells. Our team will be developing a feasible plan and drafting standard norms for the manufacture of quality batteries for Joy e-bike’s products."
WardWizard currently sells both high-speed and low-speed electric two-wheelers. The company claims to have sold around 35,000 units last year and this fiscal plans to dispatch around 1.5 lakh units. The company also plans to launch an electric passenger wheeler model by July end.
