Wardwizard Innovations & Mobility, an electric vehicle (EV) manufacturer based in Vadodara, has ambitious plans to expand its market share in both the electric two-wheeler and three-wheeler segments. The company aims to achieve 30-35% of its sales from electric three-wheelers in the near future.
Sales Targets for FY 2023-24 and Beyond
For the current financial year, Wardwizard is targeting total sales of up to 42,000 units, including 35,000-40,000 two-wheelers and 2,000 three-wheelers. The company has set even more ambitious goals for FY26, projecting sales of 50,000 electric two-wheelers and 10,000 electric three-wheelers.
New Models and Innovations
Wardwizard recently launched four new models under its Joy-e-rik and Joy-e-bike brands. These include two passenger electric three-wheelers, two cargo e-three-wheelers, and the Nemo, a high-speed electric two-wheeler.
Passenger Electric Three-Wheelers
The Joy-e-rick is priced at Rs 3.85 lakh (ex-showroom) and features a 10.24 kW lithium-ion battery, offering a top speed of 50 kmph and a range of 150 km on a single charge. The Joy Bandhu, another passenger e-three-wheeler, is priced at Rs 1.34 lakh and has a range of 100-120 km.
Cargo Electric Three-Wheelers
Wardwizard also introduced a cargo electric three-wheeler priced at Rs 4.24 lakh and a cargo e-rickshaw starting at Rs 1.30 lakh.
Nemo High-Speed Electric Scooter
In the two-wheeler category, Wardwizard launched the Nemo electric scooter at a price of Rs 99,000 (ex-showroom). The scooter comes with three drive modes—eco, sport, and hyper—and boasts a 72V, 40Ah lithium-ion battery. The Nemo offers a low running cost of just 17 paise per kilometer, making it a cost-effective choice for daily urban commuting. An introductory offer brings the price down to Rs 98,000 until the end of next month.
Production Capacity and Future Outlook
Wardwizard currently has an annual production capacity of 1.2 lakh units for e-two-wheelers and 60,000 units for e-three-wheelers. With its expanded product range, the company is positioned to capture a larger share of India’s growing EV market.
