WardWizard, under the brand name of ‘Joy e-bike’, announced its sales report for January 2022. The EV maker sold a total of 3,951 units for the given period. When compared to the January 2021 figure, which stood at 129 units, Wardwizard growth translates to a staggering 2,963 per cent. In the current financial year, Joy e-bikes has already sold more than 21,000 units and are aiming to breach the 30,000 mark. The EV maker did mention the launch of its new high-speed scooter model slated to arrive in February 2022. In the recently announced union budget, the central government has again emphasized EVs. And hence, we can expect the sales figure to grow.
As per the latest trend, EVs’ demand will grow much more in the coming years. And hence to meet the customers’ aspiration, the company has acquired 4 Million sq ft of Land. On this, the company aims to develop India’s first-ever electric vehicle ancillary cluster in Vadodara. Vadodara. The ancillary will foster the growth of the EV industry by facilitating the production and manufacturing of essential components. This includes electric motor, chassis, steel parts, lithium-ion cell manufacturing unit, lithium-ion battery assembly unit, chargers, controllers, R&D centre, production for electronic components and more. Alongside this, the ancillary cluster will also generate additional 6000 jobs in the state.
As per the latest budget, the Central Government is quite ambitious regarding the development of EVs in the market. The proposed Battery Swapping Policy will provide a big push to the EV adaptability campaign across the nation. This will help more new EV makers to join in and at the same time encourage more customers to switch to electric mobility. Going with the trend, WardWizard’s sales figure for 2023 already seems to overtake its 2022 figure by a wide margin. Keeping all this in mind, we expect EVs to play a major role in the Indian automotive market for the years to come.
Also Read: Joy e-bike brand sold 3,860 units in December 2021.