WardWizard Innovations and Mobility is planning to invest up to Rs. 650 crore in the manufacture of Li-ion advance cells and related infrastructure.
The Gujarat-based firm, which sells electric two-wheelers under the Joy brand, aims to build an R&D centre and an assembly factory at its electric vehicle auxiliary cluster in Vadodara to build the 1GWh cell production unit.
The company has already partnered with Sunkonnect, a Singapore-based renewable energy management consulting organisation, to conduct a feasibility assessment and identify possible production partners.
Yatin Gupte, Managing Director of WardWizard Innovations and Mobility, said the business aims to invest roughly Rs 600-650 crore in the requisite infrastructure over the next few years.
