Wardwizard Innovations & Mobility has announced an investment of INR 2,000 crore for the development of an Electric Vehicle Ancillary Cluster in Gujarat.
The memorandum of understanding (MOU) was signed at the Vibrant Gujarat Global Summit 2024 in Gandhinagar, symbolising a pivotal step towards fostering green mobility and reinforcing the 'Make-in-India' initiative.
The investment is expected to cover various critical areas, including research and development for electric two and three-wheelers, setting up motor assembly units in Vadodara, local production of Li-ion cells, and developing ancillaries for raw material manufacturing. The initiative aims to generate over 5,000 job opportunities, thus contributing significantly to the local economy and strengthening the electric vehicle industry in the region.
Yatin Sanjay Gupte, Chairman & Managing Director of Wardwizard Innovations & Mobility, said that with plans to establish in-house production of key components such as Lithium-Ion Cells, Motor Controllers, and Chargers, the company aims to enhance its technological capabilities and promote sustainable electric mobility solutions.
The MoU signifies its strategic vision for sustainable innovation and local integration, emphasising the company's role in driving the growth of the electric vehicle industry and contributing to a greener and more self-reliant India.
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