### **Overview** **Wardwizard Innovations & Mobility Limited (WIML)** is a pioneering Indian electric vehicle (EV) manufacturer and the **first EV-focused company to be listed on the Bombay Stock Exchange (BSE)**. Headquartered in Vadodara, Gujarat, the company is at the forefront of India’s transition to sustainable mobility with a comprehensive portfolio of electric two-wheelers, three-wheelers, and a forward-looking roadmap for hydrogen and four-wheeler development. Operating under the flagship brands **Joy e-bike** (for two-wheelers) and **Joy e-rik** (for three-wheelers), WIML has established itself as a market leader with a strong pan-India presence, innovative product design, and a vertically integrated business model emphasizing **in-house R&D, manufacturing, and supply chain localization** under the ‘Make in India’ initiative. As of November 2025, the company has delivered **over 125,000 EV units**, operates a sales and service network of **more than 750 dealers and 150+ exclusive distributor showrooms**, and serves over **100,000 customers** across 400+ cities in 19+ Indian states and union territories. --- ### **Core Business Segments** 1. **Electric Two-Wheelers** - Models include **low-speed scooters** (e.g., Wolf, Nanu, Glob) for rural and semi-urban users, and **high-speed scooters & motorcycles** (e.g., Nemo, Beast, Thunderbolt, Hurricane, Mihos). - **Nemo**, launched in 2024–25, is a high-performance electric scooter with: - **150 km range in Eco Mode** - **65 km/h top speed** - **4–5 hours charging time** - Designed for urban, hilly, and rural terrains, targeting riders aged 18–60. 2. **Electric Three-Wheelers (Joy e-rik)** - Includes **passenger (L5)** and **commercial variants (L3 and L5)** such as: - **Joy E-Rik** (commuters) - **Joy E-Loader** (freight) - **Joy E-Cart** and **E-Sahayak** (waste management, municipal use) - Equipped with features like **regenerative braking, reverse mode, IP67-rated batteries**, and a **310 kg load capacity**. 3. **EV Fleet Solutions** - Launched **"Optimotion"**, India’s first **360° EV fleet solution**, offering: - Vehicle leasing - 24/7 maintenance - Charging and battery swapping - Financing and insurance - Partners include Zomato, Swiggy, Amazon, and Flipkart. - Deploying over **400 Joy e-bikes** in cities like Kolkata, Pune, Ahmedabad, and Hyderabad. - Plans to launch **200 L5 passenger electric three-wheelers** in Maharashtra in partnership with **Cabeys** for ride-hailing. --- ### **Manufacturing & Facilities** - **Total Manufacturing Footprint**: **125,000 sq. ft.** - **Vadodara, Gujarat**: - 70,000 sq. ft. for two-wheelers (120,000 units/year per shift, scalable to 400,000–600,000 units with 3 shifts) - 40,000 sq. ft. for three-wheelers - **Deoghar, Jharkhand**: - 15,000 sq. ft. assembly plant with 20,000 units/year capacity - Serves Eastern and Northern India, with export potential to Nepal --- ### **R&D and Innovation** - **Wardwizard Global PTE Ltd.** (Subsidiary in Singapore): - Established August 2022 as a **Global R&D and Training Hub**. - Focus: **Next-gen battery tech**, including: - Cell chemistry (LFP, NMC) - Cell-to-pack assembly - AI-driven **Smart Battery Management Systems (BMS)** - Collaborations: - **A&S Power (China)**: Co-developing **BIS-certified 'Gaja Cells'**. - **C4V (USA)**: Joint development of advanced lithium-ion cells. - **Nanyang Technological University (NTU), Singapore**: Advancing LFP battery research for safety and power density. - Planning DSIR recognition in FY26. - **India R&D Centers**: - Vadodara and Singapore-based teams focus on **power electronics, mechanical design, and IoT integration**. - In-house development of **e-bike control units, controllers, and motor systems**. - Exploring **hydrogen-powered two- and three-wheelers** — prototype unveiled at Bharat Mobility Global Expo 2024. - **Battery Technology**: - Uses **fire-safe LFP battery chemistry**. - Offers **Battery as a Service (BaaS)** and **swappable battery solutions** via partnerships with **AmpVolts** and **Battery Smart**. - Reduces upfront cost by **20–30%** by enabling battery-free vehicle purchase. --- ### **Strategic Partnerships & Joint Ventures** | Partner | Focus Area | Outcome | |--------|-----------|--------| | **SpeedForceEV** | After-sales service expansion | Access to **1,000+ service touchpoints**, especially in underserved Northeast | | **AmpVolts Limited** | Charging & battery swapping | Development of **charging stations** every 3 km (aligned with 2025 policy) | | **Beulah International (Philippines)** | International expansion | **$1.29 Billion order** for 2Ws, 3Ws, and **e-Trikes**; local plant under development | | **BEEAH Group (UAE)** | GCC market expansion | Feasibility study for **EV manufacturing in Sharjah** | | **Triton EV (USA)** | 4-wheeler & truck production | **Joint manufacturing** of battery-operated trucks in India and UAE | | **Cabeys** | Ride-hailing | Launch of **L5 e-rickshaws** in Maharashtra | | **Prince Abdulaziz Bin Turki Al Saud (Saudi Arabia)** | Middle East JV | Letter of Intent to build **two EV manufacturing plants** for 2Ws, 3Ws, buses, and battery cells | --- ### **Distribution & Sales Network** - **Network Reach**: - 750+ dealers - 150+ exclusive distributor showrooms (1,500 sq. ft. each) - Over 200 service centers - Presence in **Tier 1 to Tier 4 cities**, including strong foothold in **semi-urban and rural markets** - **Expansion Plan**: - Add **150 new district-level distributor showrooms** by upgrading taluka-level dealers - Target **pan-India coverage** with 1,500+ touchpoints - **Digital Platforms**: - **joyebike.com** and **joyerik.com** for bookings, test rides, service requests, and financing --- ### **Backward Integration & EV Ancillary Cluster** - **India’s First EV Ancillary Cluster**: - **4 million sq. ft. land acquired** near Vadodara under Gujarat govt. MoU (₹2,000 crore commitment) - Designed as a **vertically integrated ecosystem** for in-house production of: - Motors - Lithium-ion cells - BMS, controllers, chargers, chassis - Includes a **1 GWh battery pack assembly line** (Phase I complete) - Goal: **Full import independence** and supply to other OEMs - Expected to generate **6,000+ jobs** - **Motor Development**: - Plans to in-house **BLDC hub and mid-drive motor production** for cost efficiency and customization --- ### **Financial & Market Position** - **Consistently profitable** with a **4-year history of dividend payouts** - **FY25 Sales**: 22,740 units - **Revenue Streams**: - EV sales (2W, 3W) - Accessories, after-sales service - Leasing and fleet management - Component supply (future) - **Cost Leadership Strategy**: - Emphasis on **affordable, sustainable, and durable EVs** - Focus on **underpenetrated semi-urban and rural markets** - Utilizes **economies of scale, automation, and localization** to reduce costs --- ### **Sustainability & National Alignment** - Aligned with **FAME II**, state EV policies, and **2025 EV infrastructure policy** (1 charging station every 3 km). - Key enabler of **last-mile and mid-mile EV logistics**, following successful pilot in Delhi. - Supports **Atmanirbhar Bharat** and **green energy transition** through local R&D, component manufacturing, and renewable partnerships.