WardWizard Innovations & Mobility Sells 938 EV Units in Jun
New Delhi : WardWizard Innovations and Mobility, the owner of electric two-wheelers brand ”Joy e-Bike”, on Monday reported total sales of 938 units for June, riding on increased incentives from the government for such eco-friendly vehicles.
The company, which sold 223 units in June 2020, said it has clocked over 1,800 units in the first quarter of 2021-22.
“With the subsidies and incentives announced by FAME-II and later by the Gujarat government, there is a sudden rise in demand for electric vehicles in the country,” WardWizard Innovations and Mobility Chief Operating Officer Sheetal Bhalerao said in a statement.
Recently, the Department of Heavy Industry (DHI) modified FAME-II and increased the demand incentive for electric two-wheelers (e2W) to Rs 15,000 per kWh, from the earlier uniform subsidy of Rs 10,000 per kwh for all EVs, including plug-in hybrids and strong hybrids except busses. Besides, it also capped incentives for e2W at 40 per cent of the vehicle cost, up from 20 per cent earlier.
On the other hand, the Gujarat government recently announced a demand incentive of Rs 10,000 per kWh for e2W, electric three-wheelers (e3W) and electric four-wheelers (e4W) over and above subsidies available from the central government.
The maximum ex-factory prices was capped at Rs 1.5 lakh, Rs 5 lakh and Rs 15 lakh, respectively, for the three vehicle categories.
Bhalerao further said, “As fuel prices continue to increase, going above Rs 100 (per litre) in many states, there is a quick shift by the customers for both high- and low-speed models.”
She said the company is further witnessing a strong rebound in business with the ease of COVID-19-related restrictions, as the cases continue to dip across the states. “All our touchpoints are now fully functional following all the state-specific protocols.”
The company is confident that the demand will keep gathering robust momentum month-on-month, she added.
Source: PTI
