EV maker Wardwizard wins Rs10,768-crore order from Philippines
10 Jun 2024
Indian electric vehicle maker Wardwizard Innovations and Mobility Limited (WIML) has secured a Rs10,768-crore ($1.29 bn) order from the Philippines for development and supply of electric two-wheelers, three-wheelers and four-wheelers.
Wardwizard said it would initially deliver electric two-wheelers and three-wheelers both for commercial and personal use, simultaneously developing four-wheeler commercial vehicles for Beulah International Development Corporation in the Philippines.
The collaboration with Beulah is in tune with the Philippine government's Public Utility Vehicle Modernisation Programme, which aims at modernizing the country’s public transport system and reducing dependence on fossil fuels, Yatin Gupte, chairman and managing director of Wardwizard Innovations Mobility said.
The development also bodes well for India becoming a hub of electric mobility for the global market, he added.
The initiative, besides helping to replace outdated petrol and diesel vehicles with modern electric alternatives, will bring new investment opportunities and create employment in the Philippines over the next 10 years, according to Nadia Arroyo, president of Beulah International Development Corporation.
The two parties have entered into a memorandum of understanding for strategic collaboration in the field of public transportation system and the increase4d use of electric vehicles.
Wardwizard Innovations and Mobility Limited is a prominent manufacturer of electric vehicles under the ‘Joy e-bike’ and ‘Joy e-rik’ brands in India.
Beulah International Development Corporation is a full-service business integration and EPC company in the Philippines.
