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Wardwizard Secures $1.29B EV Order to Transform Philippine Transport

Wardwizard

Wardwizard Innovations & Mobility Limited Receives USD 1.29 Billion Order from Beulah International Development Corporation to Revolutionize Philippines Public Transport with Electric Vehicles.

Mumbai, June 7th, 2024:Wardwizard Innovations & Mobility Ltd. (WIML), a prominent manufacturer of electric vehicles under the ‘Joy e-bike’ and ‘Joy e-rik’ brands in India, has secured a significant order worth USD 1.29 billion from Beulah International Development Corporation, one of the renowned full-service business integration companies and EPC firms in the Philippines backed by RPConnect. With this, WIML will deliver products from its existing portfolio, including the electric two-wheelers, three-wheelers in commercial and Passenger Vehicles segmentanddevelop four-wheelers for commercial vehicles for Philippines markets.This order is part of a strategic collaboration, formalized through a Memorandum of Understanding (MoU), to revolutionize the public transportation system in the Philippines with electric vehicles.

The MoU was signed in the presence of Mr. Shreyas Kurhekar, Head of Production and Business Development (Exports), Wardwizard Innovations & Mobility Limited, and Ms. Nadia Arroyo, President of Beulah International Development Corporation, along with other esteemed members of both the organisations.

Thispartnership aims to transform public transport by bringing innovative electric vehicle technology to the Philippines,creating new job opportunities, and support the local economy.

Yatin Gupte, Chairman & Managing Director of Wardwizard Innovations & Mobility Ltd., expressed his enthusiasm about the partnership: “We would like to thank Beulah International and RPConnect for showcasing their trust in our technology and robust product portfolio. India is becoming a hub of electric mobility for the global market, and such collaborations are a testament to our efforts in this direction. This opportunity will allow us to introduce our cutting-edge electric 2W Scooters, and develop 3W e-Trike (D+10), e-Trike (D+3 Passenger), e-Trike (D+5), e-Trike Cargo, Electric Mini Truck (1.5 Ton) and Golf Carts (6 & 14 seater) for the Philippines market.”

The partnership aligns with the Philippine Government’s Public Utility Vehicle Modernization Program (PUVMP), an ambitious initiative led by the Department of Transportation to provide a safer and more systematic daily transportation service by replacing outdated petrol and diesel vehicles with modern electric alternatives. Through this strategic partnership, Wardwizard Innovations & Mobility Ltd and Beulah International will bring innovative electric vehicle technology to the Philippines with the objective to drastically transform the transportation landscape.

Ms. Nadia Arroyo, President, Beulah International Development Corporation, highlighted the economic benefits of the collaboration, “Wardwizard’s cutting-edge EV solutions will catapult the public transportation in the Philippines and we are eager to see the change. As part of the partnership, we will be facilitating electric vehicle sales and distribution in the Philippines. Besides changing the face of the transportation system, this initiative will create new employment opportunities and bring significant investment to support the local economy over the next 10 years.”

In a joint statement, Wardwizard Innovations& Beulah International emphasised their commitment to the future of transportation in the Philippines.They showcased their willingness to play an active role in the future of transportation in the Philippines while cooperating with the government and local communities.

About Wardwizard Innovations & Mobility Limited

Wardwizard Innovations & Mobility Ltd. is one of India’s leading auto manufacturing companies in the Electric Vehicle (EV) segment under the brand name Joy e-bike. Being the first listed entity on BSE in Electric Vehicle manufacturing, it is mainly focused on the growth potential in the Indian EV segment to have a positive impact in the future. Given the current state of the environment, where fuel-powered vehicles account for the vast bulk of carbon emissions, the company is promoting improvement by offering cleaner, greener options that produce no emissions. With more than 10 models in its portfolio in both high and low-speed categories, the Company has established a strong presence in more than 400+ major cities across India and aspires to boost this number throughout the country.

About Beulah International Development Corporation

Beulah International Development Corporation (BEULAH), backed by RPConnect Group and based in the Philippines, is a leading full-service business integrator specializing in sustainability and renewable energy. It provides comprehensive services, from technology sourcing and investor search to project planning, management, and facility turnover. Their workincludes integrating technology and project proponents, conducting due diligence, coordinating building and systems design, and ensuring quality through rigorous market testing. Committed to reducing costs through renewable energy solutions, BEULAH delivers tailored, sustainable projects that meet the unique needs of our clients.

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