Wardwizard Innovations & Mobility Limited (WIML), known for its ‘Joy e-bike’ and ‘Joy e-rik’ brands, has received a Letter of Intent (LOI) from His Royal Highness Prince Abdulaziz Bin Turki Bin Talal Bin Abdulaziz Al Saud to establish a Joint Venture in Saudi Arabia. This marks a key step in Wardwizard’s global expansion and commitment to sustainable mobility.
A recent feasibility study supports this venture, aligning with Saudi Arabia’s vision for sustainable development. Mr. Yatin Gupte, Chairman and Managing Director, expressed excitement about the partnership and its potential to enhance both global presence and the Kingdom’s sustainability goals.
The proposed Joint Venture will establish two key plants in Saudi Arabia: an Assembly Plant for electric two-wheelers, three-wheelers, and four-wheelers, with future plans to expand into electric bus production; and an EV Cells Plant dedicated to manufacturing electric vehicle cells. Wardwizard Innovations will outline its investment and stake in the venture, underscoring its commitment to sustainable mobility in the Kingdom.
The company will bring its technological expertise and intellectual properties, including advanced EV technologies and innovative manufacturing processes. This partnership aims to strengthen the joint venture’s position in the expanding EV market and support Saudi Arabia’s transition to a greener, more sustainable transportation infrastructure.