The journey of any growing organization becomes contemporary when it grows from a local to a global business canvas over the years. The future is prospective with a perfect fore-vision and zeal to explore new territories as per the market trends and demands.
One of the top producers of electric two-wheelers under the brand Joy e-bike, WardWizard Innovations & Mobility Ltd, Vadodara intends to establish its first global R&D headquarters in Singapore. It will open a global sales office and an R&D center in Singapore under the umbrella of its wholly owned subsidiary, Wardwizard Global Pte Ltd.
The Organization stated on Tuesday that this was done in light of the ongoing increase in electric vehicle demand and the imperative to develop goods holistically for increased safety.
The cutting-edge facility will concentrate on the research and development of two, three, and four-wheel vehicles in addition to the creation of cutting-edge EV products. The business will expand the reach of its research on motors, battery management systems, pack assemblies, cell chemistry, and other EV parts. The company stated in a media statement that, it will also focus on increasing safety procedures and creating new battery standards in collaboration with top accreditation bodies for enhanced safety.
“The mobility sector is evolving at a rapid pace globally due to increased emphasis on sustainability..”
As per the view shared by Mr.Yatin Gupte, Chairman and Managing Director of Wardwizard Innovations & Mobility Ltd.
“Electrification of the sector will pave the way for creating a safe and secure future for the present and future generations. At WardWizard, we are truly committed to facilitating the transformation of the sector to electric mode while providing the best products to consumers. Our Singapore-based new R&D centre will play a vital role in the evolution of the sector with its unparalleled research and innovation ability. With the best team and unflinching commitment, we are heading towards building a healthier future for the society.” He further added.
Joining hands with the global giants
Singapore has become a leader in the development of green policies. In order to cut carbon emissions, they have integrated clean technology into daily life, particularly in the development of batteries.
Sunkonnect, a Singapore-based company, will be the facility’s technical knowledge partner for Ward wizard Global Pte Ltd. Lakshman Gurazada, who will serve as the Director of Operations, will be in charge of the Centre of Excellence. Under his direction, the business will work with a brilliant workforce of more than 30 scientists and engineers from around the world to design and build EV goods that adhere to international standards.
We shall broaden our areas of investigation and development of new offerings as well as future technologies. The R&D headquarters will also attempt to comprehend the needs of the local Southeast Asian product and market development in accordance with last-mile delivery providers.
The organization will also work with top international research institutions and businesses in Southeast Asia, specializing in battery technology.
Global market potential- the future ahead
In 2021, the Asia-Pacific Electric Bike (E-Bike) Market was estimated to be worth USD 5239.17 million, and by 2029, it is anticipated of worth USD 12553.01 million, growing at a CAGR of 10.60%, according to a research published by The Data Bridge Market Research.
Due to their compact size and long lifespan, lithium-ion batteries make up the largest battery type segment in the relevant market. The Data Bridge Market Research team’s in-depth expertise analysis, import/export analysis, analysis and evaluation, manufacturing consumer analysis, and strategic analysis support this analysis.
The development of portable electric energy storage systems offers market participants lucrative potential from 2022 to 2029, according to the estimate. The market for e-bikes will continue to expand as connected e-bikes are becoming more popular.
The right strategy and approach toward a sustainable future is our code word for success in the global business arena.
Source: The Data Bridge Market Research | National Battery Research Institute