Wardwizard Innovations & Mobility Limited (WIML), the company behind the “Joy e-bike” and “Joy e-rik” electric vehicle brands, has announced plans for a joint venture in Saudi Arabia. The company received a Letter of Intent (LOI) from Prince Abdulaziz Bin Turki Bin Talal Bin Abdulaziz Al Saud, marking a significant step toward expanding its international reach and promoting sustainable transportation.
A feasibility study has confirmed the potential success of this venture, which aligns with Saudi Arabia’s commitment to sustainable development. Buoyed by the study’s positive outcomes, Wardwizard is proceeding with the partnership.
Yatin Gupte, Chairman and Managing Director of the company, expressed the company’s pride in receiving the LOI, describing the collaboration as a key recognition of their electric mobility expertise. He emphasized that the joint venture will not only support the Kingdom’s sustainability objectives but also broaden Wardwizard’s global operations.
The agreement includes the establishment of two plants in Saudi Arabia: one for assembling electric two-wheelers, three-wheelers, and four-wheelers, with future plans to include electric buses, and the second plant dedicated to manufacturing electric vehicle (EV) cells.
Wardwizard will contribute technological expertise, intellectual property, and innovative EV manufacturing processes to the joint venture. This collaboration is expected to bolster Saudi Arabia’s transition to a greener transportation system, reinforcing both parties’ commitment to sustainable mobility solutions.
Wardwizard Innovations & Mobility Ltd is a prominent Indian company specializing in electric vehicles, particularly under its brands “Joy e-bike” and “Joy e-rik.” Founded with a focus on sustainable and eco-friendly mobility solutions, Wardwizard aims to revolutionize transportation in India by offering electric two-wheelers, three-wheelers, and related technologies.
The company is committed to promoting green energy and reducing carbon emissions through innovative products. Wardwizard has expanded its market presence with a growing portfolio of electric vehicles, playing a significant role in India’s transition towards cleaner, greener transportation alternatives.
