EV maker WardWizard to double annual production capacity to 2 lakh units
Electric two-wheeler maker WardWizard Innovations and Mobility Ltd on Tuesday said it will double its annual production capacity to 2 lakh units with the setting up of an assembly line at Vadodara plant.
The company, which sells electric two-wheelers under the 'Joy e-bike' brand, said its "new automatic assembly line will become operational from October 2021".
With this, the annual production capacity will be increased "from one lakh units to two lakh units in a single shift", WardWizard said in a statement without disclosing the investments on the exercise.
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The production capacity can be further ramped up to 6 lakh units annually with three shifts depending on the market demand, it said.
Commenting on the move, company's Chief Operation Officer Sheetal Bhalerao said,"We are committed to increasing the availability of 'Joy e-bike' electric scooters and motorcycles across the markets. Increased awareness and push from the government has created the demand for electric mobility in India."
Citing a market study done by the company, she said,"Most of the states in the northern region are adopting sustainable mobility. That's why our prime focus is to strengthen our foothold in growing markets."
Bhalerao further said,"We are also planning to introduce our new products by the end of this fiscal. An automatic assembly line will help to boost our production capacity. We are expecting the highest ever growth in the coming festive season."
Last month, the company said it achieved its highest ever monthly sales of 2,000 units and registered an order of more than 5,000 units.
WardWizard said it is also planning to expand its reach with more than 750 dealerships by the end of this financial year. At present, it has 400 dealerships across the country in tier-I, II and III cities.