This electric vehicle maker registered 127% growth in June'22
WardWizard Innovations and Mobility Ltd, owner and manufacturer of electric two-wheeler brand, Joy e-bike has announced that it has managed to post a growth of 127% in June’22 over the corresponding month a year ago. The company has registered this growth by selling 2,125 units of low-speed and high-speed electric two-wheelers last month, as against 938 units of two-wheelers in June last year.
Meanwhile, the EV-maker has further added it has managed to sell over 8,000 units (8,267) of electric scooters and motorcycles in the Q1 of FY22-23 alone. At this performance, the company has registered a growth of 338% as against the same period of last financial year (April- June 2021).
As per the company, it has been witnessing high demand in urban and semi-urban regions. “Electric two-wheelers are becoming part of a large number of households in both the urban and semi-urban cities. However, due to varied challenges related to the unavailability of raw materials, we are unable to meet the growing market demand. Acknowledging the issues, we at Wardwizard are working towards smoothing our supply chain and reducing the waiting periods for our products," said Yatin Gupte, Chairman & Managing Director, Wardwizard Innovations & Mobility.
Meanwhile, the company has also announced that deliveries of its high-speed offerings have been initiated in the country. “We have also started the deliveries of our high-speed electric scooters Wolf+ and Gen Next Nanu+ in a phased manner and logged the sales of more than 500 units across the states of Maharashtra, Gujarat, Rajasthan, etc. In further phases we will expand our product reach to more states across India, adding new customers to our family," added Gupte.
Other electric vehicles including TVS iQube has witnessed a spike in demand in June'22. TVS Motor Company's iQube electric has accounted for 4,667 unit sales in June 2022 alone. The automaker has further added that it is the ‘highest ever sales of TVS iQube Electric’. (Read full details here)