WardWizard Innovations and Mobility Ltd (BSE Code: 538970) – jointly with its Promoters & Promoters’ Group – acquired 4 million sqft of land with possession via MOU & Agreement for Sale in Vadodara for the development of electric vehicle (EV) ancillary project as part of MOU signed with the Government of Gujarat for the sum of 500 crore.
The investment would help shape the Indian EV industry, according to a Memorandum of Understanding inked with the Gujarat government in December 2021.
The project’s goal is to develop a one-of-a-kind solution for localising and strengthening the raw material supply chain for electric vehicle manufacturing. The establishment of the EV auxiliary cluster will commence in phases beginning in February 2022.
