Wardwizard Commits Rs 2,000 Crore to EV Ancillary Cluster in Gujarat

On 26th October 2023, Wardwizard Innovations & Mobility, an EV manufacturer based in Vadodara, solidified an initial agreement with the Gujarat government. The pact involves a substantial investment of Rs 2,000 crore aimed at establishing an EV ancillary cluster by 2024.

This considerable investment is earmarked for various pivotal initiatives, including bolstering research and development (R&D) endeavors for electric two-and three-wheelers. Additionally, it encompasses the establishment of a motor assembly unit within the Vadodara manufacturing facility, as well as the production of lithium-ion (li-ion) cells and ancillaries for raw material manufacturing.

These initiatives are poised to strengthen the local ecosystem and are projected to generate employment opportunities for around 5,000 individuals, significantly contributing to the advancement of self-reliance in this sector.

This collaboration strategically aligns with the government's vision to augment green mobility within the state, thereby playing a pivotal role in nurturing the exponential growth of the EV industry.

News by Rahul Yelligetti