Wardwizard Innovations gains after inking MoU with Ampvolts

Wardwizard Innovations & Mobility advanced 2.89% to Rs 44.14 after the company signed a memorandum of understanding (MoU) with Ampvolts to develop advanced EV charging infrastructure in India and abroad.

Under the agreement, the company will identify strategic locations for setting up EV charging stations, act as the frontend partner for key projects, and provide essential resources, including financial support, to develop a comprehensive EV ecosystem.

Ampvolts will support the partnership by supplying advanced EV charging equipment, including chargers and hardware, to Wardwizard Innovations & Mobility. They will also provide customized CMS software for payment gateways and online monitoring.

Additionally, Ampvolts will offer Battery as a Service (BaaS) to Wardwizard's B2B clients, delivering innovative solutions to improve business operations.

 

This strategic collaboration aims to advance green mobility solutions by leveraging the synergies of both organizations to develop robust EV charging infrastructure in India and globally.

Yatin Gupte, chairman and managing director of Wardwizard Innovations & Mobility, said, This partnership is a step forward in our mission to create a robust and sustainable EV ecosystem. ampvolts expertise in developing customized charging infrastructure solutions will empower us to offer our customers reliable and efficient charging options, enhancing their overall EV experience.

Together with ampvolts, we are committed to accelerating the transition to green mobility by delivering integrated solutions that empower businesses and individuals to adopt electric vehicles confidently."

Vipul Chauhan, managing director of Ampvolts, said, We are happy to partner with Wardwizard Innovations & Mobility in this strategic collaboration, which marks a transformative step toward advancing green mobility. Wardwizards deep expertise in electric vehicle manufacturing and their well-established presence in the market provide us with invaluable insights and opportunities to expand our reach and impact.

By leveraging our cutting-edge technologies and value propositions, as well as their strong customer base and understanding of mobility needs, we can tailor our charging equipment and software solutions to deliver maximum value.

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.

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