In collaboration with SpeedforcEV under the banner of Optimotion, the company deployed its first batch of 100 electric two-wheelers in Hyderabad. The company will provide various initiatives through strategic partnerships, including vehicle supply, 24/7 maintenance, spare parts availability, charging infrastructure, financing solutions, and insurance support. This integrated approach ensures zero downtime for fleet operators, maximizing vehicle uptime and optimizing revenue potential.
Cashless insurance services will be managed by Bluebells, financing by Mangalam Industrial Finance, charging stations by Ampvolts, and spare parts and maintenance by SpeedforcEV.
With an initial deployment for Zomato, Swiggy, Flipkart, Amazon, and BigBasket, the company plans to expand rapidly across major metropolitan cities beyond Hyderabad, including Chennai, Mumbai, Pune, Vadodara, Ahmedabad, Kolkata, Bangalore, and Surat. Looking ahead, the company plans to extend its partnerships to B2B, B2C, and retail players, further strengthening its presence in the rapidly growing electric mobility sector.
Yatin Gupte, chairman & managing director of Wardwizard Innovations & Mobility, said: "This is a landmark moment for the Indian EV industry, as we are building endeavoring a complete end-to-end ecosystem to support fleet operations. Our partnership with SpeedforcEV for fleet operations, Mangalam Industrial Finance Limited, Mufin Green Finance, Bluebells Insurance Broking., Ampvolts, and other key industry players ensures a hassle-free experience for businesses, maximizing uptime and revenue potential. We are targeting the deployment of 8,000 vehicles by March 2025 and scaling up to 50,000 vehicles by March 2026, reinforcing our commitment to driving EV adoption in the country. We are dedicated to revolutionizing last-mile mobility and fleet operations with innovative and sustainable solutions.”
Meanwhile, the company’s board is scheduled to meet on 6 February 2025 to review unaudited financial results for the third quarter and nine months ended 31 December 2024, both on a standalone and consolidated basis, along with the limited review report.
Wardwizard Innovations & Mobility is one of the leading manufacturers of electric two-wheelers under the brand ‘Joy e-bike’ and three-wheelers under the brand ‘Joy e-rik’ in India. With more than 10 models in its portfolio in both high- and low-speed categories, the company has established a strong presence in more than 400+ cities across India.
The company reported a consolidated net loss of Rs 6.55 crore in Q2 FY25 as compared to a net profit of Rs 2.55 crore recorded in Q2 FY24. Net Sales jumped 18.4% to Rs 58.18 crore in Q2 FY25 from Rs 49.15 crore posted in Q2 FY24.
The counter fell 2.62% to end at Rs 31.59 on Monday, 3 February 2024.