Using the Rs 1,300 crore it wants to raise, electric two-wheeler manufacturer WardWizard Innovations and Mobility has mapped out plans to establish a lithium-ion cell production facility and make its entry into the electric three-wheeler category.
The Vadodara-based company presently offers 10 high-speed variants among its 14 electric two-wheeler models under the Joy e-bike brand. The management of the company is focused on lowering the cost of ownership of its EVs while also securing the supply chain through the construction of its own lithium-ion cell manufacturing facility.
Yatin Gupte, chairman and managing director, WardWizard, said, “We will be starting with a lithium-ion assembly plant by January and over the next 18-24 months we will be converting that to lithium-ion manufacturing with a capacity of 1 GW.”
