WardWizard sold 3,290 electric scooters and motorcycles in November 2021 – A 12 fold increase over 255 units sold in November 2020
Vadodara based WardWizard markets its electric two wheelers under ‘Joy e-bike’ brand. Last month, they recorded the highest ever monthly sales till date. The company sold a total of 3,290 units in Nov 2021, approximately a 12 fold jump over 255 units sold in November 2020, a percentage hike of 1,190 percent.
Growth was seen both in urban and semi urban sectors. Taking Year-to-Date sales into account, they have sold 13,516 units during the April-November 2021 period, a 590 percent increase over 1,957 units sold in the same 7 month period of 2020.
Joy Electric Scooters, Motorcycles
Every electric two wheeler from the company comes in with JOY E-Connect. This is a cloud-based mobile app that goes a long way in enhancing its overall riding experience. Compatible with the entire Joy e-bike product range, the App can be downloaded on iOS and Android.
Joy e-bike lineup currently includes five high-speed vehicles and five in the low-speed category. Their electric two wheelers are all priced aggressively and are sold via authorized sales outlets across 23 major cities in the country. WardWizard plans to add 250 dealerships by the end of 2022.
Nov 2021 also saw WardWizard inaugurate a new global headquarters in Vadodara. Joy e-bike also launched a new brand campaign in collaboration with ‘The Kapil Sharma Show’. Through this show, the company will get a chance to showcase their range of electric two-wheelers to a wider audience.
WardWizard Vadodara Plant
WardWizard has an installed capacity of 4 lakh units at its plant in Vadodara, Gujarat. Investments to the tune of Rs 200 crores have been made till date. Plans are afoot to mark foray into more segments in the future. They could enter the electric rickshaw or the electric car segment.
Joy e-bike targets to sell 45,000-50,000 electric scooters and motorcycles in the current fiscal. The company expects a higher percentage of sales from non-metro regions across India.
In terms of added investment, WardWizard will be looking at investing an added Rs 175 crores over the next 6 months. They also have plans to set up new assembly facilities in West Bengal and Kerala to cater to the demands of buyers in the North East and Southern states respectively. Both these new facilities are expected to be operational by the first quarter of next financial year.
Source: Bike - rushlane.com
