Joy e-bike maker sees impressive growth, fueled by rising EV demand in India.
Wardwizard Innovations & Mobility Ltd., the company behind the popular ‘Joy e-bike’ and ‘Joy e-rik’ brands, is riding high on a wave of success. They just announced a whopping 60% increase in electric two-wheeler sales this July compared to the same time last year. That translates to 1623 units zipping out the door and onto Indian roads!
This impressive performance isn’t just a flash in the pan. Wardwizard also reported a 29.23% jump in revenue for the first quarter of FY25 (April-June 2024). Clearly, their strategy of providing innovative and reliable electric vehicles is paying off.
What’s driving this success?
- Booming EV Market: India’s appetite for electric vehicles is growing rapidly, and Wardwizard is perfectly positioned to meet this demand.
- Government Support: Supportive policies and initiatives are creating a favorable environment for EV adoption.
- Festive Season: With the festive season just around the corner, consumer spending is expected to increase, further boosting sales.
Looking Ahead
Wardwizard’s Chairman and Managing Director, Mr. Yatin Gupte, is optimistic about the future. He emphasized the company’s commitment to expanding its reach both within India and internationally. With a focus on continuous innovation and customer satisfaction, Wardwizard is set to play a key role in India’s transition to a greener future.