It aims to create more than 6000 jobs in the state with the EV Ancillary Cluster
WardWizard Innovations and Mobility Ltd has signed a pact with the government of Gujarat to invest Rs 500 crore to create an EV Ancillary Cluster.
Under the Memorandum of understanding (MoU), the Vadodara-based company will invest Rs 500 crore in research and development of electric 2 and 3-wheelers, set up a motor assembly at the Vadodara facility, and develop ancillaries to manufacture raw materials.
It aims to create more than 6000 jobs in the state with the EV Ancillary Cluster.
Yatin Gupte, chairman and managing director, Wardwizard Innovations and Mobility, said, “The investment would help boost the ‘Make-in-India’ vision while promoting local vendors during this electric mobility revolution.”
“The supply chain is under immense pressure with the growing demand for electric vehicles, especially two-wheelers. EV Ancillary will work as a solution and ease the supply chain while decreasing the dependency on imports. As we are at the cusp launching our new high-speed two-wheelers and electric three-wheelers, the investment will help reinforce our R&D and marketing activities,” he said.
Through the creation of EV Ancillary Cluster, manufacturing partners will be invited to set up their production unit for developing ancillaries under one roof to manufacture essential components like Motor, Battery, Chassis, Steal parts, Chargers, Controllers, etc, WardWizard said.
“WardWizard will be supporting them by providing ultra-modern facilities including land, manpower and other essential resources,” it said.
