EV maker WardWizard Innovations' sales in FY22 zooms to 30,761 units

Electric two-wheeler maker WardWizard Innovations and Mobility Ltd on Monday reported over an eight-fold jump in sales at 30,761 units in the fiscal year ended March 31, 2022.

It had sold 3,834 units of electric two-wheelers in 2020-21, WardWizard Innovations and Mobility said in a statement.

The company, which sells electric two-wheelers under the brand 'Joy e-bike', said the sales it clocked in 2021-22 were its highest-ever in a year.

Last month, the company sold 5,020 units as compared to 1,174 units in the same period last year.

''The continuous growth in sales is a testimony of our buyers' trust in us. In FY23, the company will remain devoted to investing in R&D, diversifying product portfolio, and strengthening its market presence,'' WardWizard Innovations and Mobility Chief Operations Officer Sheetal Bhalerao said.

With the rise in fuel prices, there is a fast shift towards electric two-wheelers, Bhalerao added.

In the last fiscal year, the company expanded its annual production capacity from 1 lakh units to 2 lakh units in a single shift with the new automatic assembly line, WardWizard Innovations and Mobility said.