·         Partners with SpeedForcEV to deploy electric two wheelers, offering technology-driven solutions for delivery partners and fleet operators.

·         Strengthens EV Charging Infrastructure Through Strategic Collaboration with AmpVolts

·         Plans to enter Ride-Hailing Sector with Deployment of L5 Passenger Electric Three-Wheelers in Maharashtra in partnership with Cabeys.

Bengaluru, March 27, 2025: Wardwizard Innovations & Mobility Limited, a leading electric vehicle manufacturer operating under the brands ‘Joy e-bike’ and ‘Joy e-rik’, is further strengthening its presence in fleet operations and last-mile delivery mobility. Following the successful deployment of 100 electric two-wheelers in Hyderabad, the company, in partnership with SpeedForcEV, is now deploying 400 electric two-wheelers across Kolkata, Pune, and Ahmedabad.

The success of the Hyderabad deployment has generated significant demand from various industry players and regions across India. Wardwizard’s comprehensive end-to-end solutions, coupled with its extensive service network, have ensured record uptime for vehicles, enhancing operational efficiency and enabling delivery partners to exceed revenue expectations. This latest expansion will further strengthen the Quick Commerce and E-Commerce sectors by optimizing delivery operations for leading industry players.

Expanding beyond two-wheelers, Wardwizard, in collaboration with SpeedForcEV and Cabeys (a ride-hailing platform), will also deploy 200 L5 passenger electric three-wheelers in Maharashtra. This initiative aims to provide auto drivers with greater earning opportunities while offering daily commuters faster and more cost-effective transportation options.

Additionally, Wardwizard Innovations & Mobility has recently collaborated with AmpVolts, a key partner instrumental in this expansion. AmpVolts’ extensive EV charging network will play a crucial role in ensuring seamless operations for the deployed fleet, further reinforcing Wardwizard’s commitment to building a comprehensive and sustainable EV ecosystem.

Speaking on the expansion, Mr. Yatin Gupte, Chairman & Managing Director, Wardwizard Innovations & Mobility Limited, said, “The noteworthy success of our Hyderabad deployment has proven the efficiency and reliability of our integrated fleet solutions. With the deployment of 400 electric two-wheelers and the plan to deploy 200 L5 passenger electric three-wheelers in the ride-hailing sector, we are enhancing efficiency for both delivery partners and daily commuters through reliable, high-performance EVs. Features like a long-range battery and seamless charging make it an ideal solution for last-mile mobility. With low operational costs, our fleet partners can maximize savings while contributing to a greener future. We aim to deploy 5000 L5 Passenger electric three-wheelers in the ride-hailing sector across various Indian states in FY 25-26. Our partnerships with SpeedForcEV, AmpVolts and Cabeys strengthen our vision of making electric mobility accessible, reliable, and financially rewarding for all stakeholders.”

With this latest expansion, Wardwizard Innovations and Mobility Limited is set to redefine last-mile delivery mobility and expand into the ride-hailing sector while reinforcing its position as a pioneer in India’s electric fleet ecosystem. Looking ahead, the company plans to accelerate its deployment strategy, targeting a larger fleet presence across key metropolitan cities and expanding its partnerships to further integrate smart mobility solutions into India’s logistics landscape.

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Under this agreement, Mufin Green Finance Limited will provide seamless financial solutions to customers purchasing L3 & L5 Passenger and Cargo electric three-wheelers of Wardwizard Innovations & Mobility Ltd. through its authorized dealer network. Wardwizard will facilitate proper documentation, ensure vehicle registration with hypothecation to Mufin, and guarantee timely delivery. The company ensures seamless battery support for both Lead Acid and Lithium Batteries, offering reliable performance during the eligible warranty timeframe. A notable highlight of this partnership is that Mufin Green shall also extend its financing solutions to support fleet operations (B2B) for Joy e-bike electric two-wheelers (2W) and Joy e-rik electric three-wheelers (3W). This includes providing tailored financing options for fleet owners and operators, further accelerating the adoption of electric vehicles in the commercial and logistics sectors. 

The MoU emphasizes collaborative efforts to create a robust EV financing ecosystem. While Mufin will manage credit evaluations, financing terms and carbon credit benefits, Wardwizard will provide operational support, including buyback of repossessed vehicles in “as-is-where-is” condition. This partnership addresses critical barriers in EV financing and accessibility, paving the way for sustainable mobility solutions.

Commenting on the partnership, Mr. Yatin Gupte, Chairman and Managing Director of Wardwizard Innovations & Mobility Limited, said, “We are excited to partner with Mufin Green Finance as their mission to support sustainability aligns with our mission to drive green mobility. The partnership will help us empower the consumer segment and increase the penetration of EVs by facilitating customers’ viable financial support. We look forward to strengthening the EV ecosystem in partnership with Mufin Green Finance Ltd. and making EV ownership more accessible and affordable in India.”

On this occasion, Mr.Kapil Garg, Mufin Green Finance Limited, Co-Founder & Managing Director said, “Our association with Wardwizard reflects our promise to drive the growth of sustainable mobility in India. By offering accessible and flexible financing options for their L3 Passenger and L5 Cargo electric three-wheelers, we aim to make EV adoption seamless and affordable for customers while contributing to a greener future.”

This partnership between Wardwizard Innovations & Mobility Ltd. and Mufin Green Finance Ltd. represents a significant step toward accelerating the adoption of electric 3W vehicles in India. By combining Mufin’s robust financial solutions with Wardwizard’s advanced EV technology, the collaboration aims to facilitate a seamless and convenient transition to sustainable transportation for customers.

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Noteworthy, the company has already sold more than 6K (6,006) units of electric two wheelers, including high and low speed models in the first five months (April- August 2024) of this financial year.

Mr. Yatin Gupte, Chairman and Managing Director of Wardwizard Innovations & Mobility Limited, said, “With the beginning of the festival season, we are already witnessing high footfall and enquiries for our diverse range of product portfolio. As the market sentiments looks positive, we are expecting strong growth in the coming months especially with Navratri, Diwali and Bhaidooj. In the preparation of increased demand during these months, we are ensuring that all our deals across the region are well stocked with all the models.”

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