WardWizard Innovations and Mobility Ltd, manufacturers of electric two-wheeler brand Joy e-bike, has released the monthly sales numbers for April 2022. Last month the EV maker sold 4,087 units in India, witnessing a more than 8-fold growth of 766 per cent compared to the 472 electric two-wheelers sold in April 2021. However, we have to consider the fact that last April, India was hit by the second wave of COVID-19, the company too had a much smaller line-up of EVs on sale back then. So, it won't be ideal to compare the two months.
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In fact, compared to March 2022, during which the company sold 5,020 electric two-wheelers, WardWizard witnessed a month-on-month decline of nearly 19 per cent. This gives us a more realistic look at the company's sales trajectory. The company says that while demand is certainly high, the constraints on the supply side have had an impact on production.
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Compared to March 2022, during which the company sold 5,020 electric two-wheelers, WardWizard witnessed a month-on-month decline of nearly 19 per cent
Speaking on the sales performance for April 2022, Sheetal Bhalerao, Chief Operations Officer, WardWizard Innovations and Mobility Ltd, said, "We have started the new financial year with a strong momentum. However, due to varied challenges related to the unavailability of raw materials, we are unable to meet the growing market demand. To combat this, we have assured our partners with alternative solutions. We are further seeing substantial demand for electric two-wheelers and our models. Considering the rise in demand, the company has added 40 more touchpoints across markets like Gujarat, Maharashtra, Uttar Pradesh, Madhya Pradesh etc. in the month."
In FY2022, the company expanded its annual production capacity from one lakh units to two lakh units in a single shift with a new automatic assembly line at its factory. The company has also acquired a 40 lakh sq. ft of land to develop India's First-Ever Electric Vehicle Ancillary Cluster in Vadodara to promote the production of necessary raw materials locally.
