Wardwizard Innovations Anticipates that Electric Three-Wheelers will Account for 30 to 35% of Sales

Nitin Konde, Varun Bhardwaj

Dec 17, 2024 — 2 min read

Wardwizard Predicts Electric Three-Wheelers to Drive 35% of Sales

Wardwizard Innovations & Mobility, an electric vehicle manufacturer based in Vadodara, stated on 13 December that it anticipates e-three-wheelers to account for roughly 30 to 35 percent of its future sales volume. Additionally, the business stated that it hopes to sell up to 42,000 units by the end of the current fiscal year.

With two new product releases in the passenger and two in the commercial segments earlier in the day, Wardwizard Innovations & Mobility increased the range of products it offers under the Joy-e-rik and Joy-e-bike brands. A fast electric two-wheeler has also been unveiled. "We anticipate that three-wheeler sales will account for 30 to 35 percent of our total vehicle sales," Akhtar Khatri, Director of Sales and Strategy, told reporters during a press conference.

Aiming to Hit a Target of 60,000 Units

In addition to 2,000 three-wheelers, the company hopes to sell between 35,000 and 40,000 two-wheelers this fiscal year. The goal for the following fiscal year (FY 26) is to sell 50,000 e-two-wheelers and an additional 10,000 electric three-wheelers.

Additionally, Wardwizard stated that the present e-two-wheeler production capacity is 1.20 lakh units yearly, while the e-three-wheeler production capacity is 60,000 units annually.

The Pricing Range & Technology Used

With three drive modes—eco, sport, and hyper—and a 72V, 40Ah lithium-ion (NMC) battery with Smart BMS for longer life and performance, the high-speed electric scooter Nemo, which retails for INR 99,000 (ex-showroom), is made for urban roads, according to the manufacturer. According to the firm, Nemo has operating costs as low as 17 paisa per kilometre. Along with offering an initial pricing of INR 98,000 until the next month, the business also stated that reservations for the e-scooter would be accepted starting on 13 December.

According to the company, the passenger sector e-three-wheeler Joy-e-rick features a 10.24 kW lithium-ion battery, a top speed of 50 km, and a range of 150 km on a full charge. It starts at INR 3.85 lakh (ex-showroom). The 48V BLDC motor of the passenger e-rickshaw Joy Bandhu can provide a maximum power of 1.59 kW, while the 7.2 kW lead-acid battery pack can go 100–120 km between charges. According to Wardwizard Innovations & Mobility, its ex-showroom pricing range is INR 1.34 lakh.

As per the official statement, the e-rickshaw and e-three-wheeler for the cargo category are priced at INR 1.30 lakh (ex-showroom) and INR 4.24 lakh (ex-showroom), respectively. According to its Chairman and Managing Director Yatin Gupte, the company's new models across both business sectors represent a major turning point in our dedication to furthering India's shift to environmentally friendly and green mobility.