Wardwizard Innovations & Mobility Limited has announced a significant joint venture with Prince Abdulaziz Bin Turki Bin Talal Bin Abdulaziz Al Saud of Saudi Arabia. This collaboration aims to establish two electric vehicle assembly plants in Saudi Arabia, focusing on sustainable mobility solutions. The joint venture aligns with Saudi Arabia’s vision for a greener future and Wardwizard’s global expansion strategy. The partnership is expected to bolster the electric vehicle market in the region, leveraging Wardwizard’s expertise and the Kingdom’s commitment to sustainable development.
Strategic Partnership for Sustainable Mobility
Wardwizard Innovations & Mobility Limited, a leading manufacturer of electric vehicles under the brands ‘Joy e-bike’ and ‘Joy e-rik,’ has received a Letter of Intent from Prince Abdulaziz Bin Turki Bin Talal Bin Abdulaziz Al Saud to form a joint venture in Saudi Arabia. This partnership is a significant endorsement of Wardwizard’s capabilities in the electric mobility sector. The joint venture will involve setting up two plants: one for assembling electric two-wheelers, three-wheelers, and four-wheelers, and another dedicated to producing electric vehicle cells.
The collaboration is part of Wardwizard’s broader strategy to expand its global presence and support sustainable mobility solutions. The feasibility study conducted for this venture has confirmed its viability, paving the way for the project’s implementation. This joint venture is expected to contribute significantly to Saudi Arabia’s vision for a sustainable future, aligning with the Kingdom’s efforts to reduce carbon emissions and promote green technologies.
Enhancing the Electric Vehicle Market
The establishment of electric vehicle assembly plants in Saudi Arabia marks a major milestone for both Wardwizard and the Kingdom. The first plant will focus on assembling a range of electric vehicles, including two-wheelers, three-wheelers, and four-wheelers, with plans for future expansion to include electric buses. This initiative will not only enhance the availability of electric vehicles in the region but also support the local economy by creating job opportunities and fostering technological innovation.
The second plant will be dedicated to the production of electric vehicle cells, a critical component in the manufacturing of electric vehicles. By localizing the production of these cells, the joint venture aims to reduce dependency on imports and ensure a steady supply of high-quality components. This move is expected to strengthen the supply chain and enhance the overall efficiency of electric vehicle production in Saudi Arabia.
Commitment to Sustainable Development
The joint venture between Wardwizard Innovations & Mobility and Prince Abdulaziz Bin Turki Bin Talal Bin Abdulaziz Al Saud underscores a shared commitment to sustainable development. The collaboration will bring Wardwizard’s technological expertise and innovative manufacturing processes to Saudi Arabia, supporting the Kingdom’s transition towards an environmentally friendly transportation ecosystem. The partnership is also expected to drive research and development in the electric mobility sector, fostering innovation and advancing green technologies.
Wardwizard’s Chairman and Managing Director, Yatin Gupte, expressed confidence in the success of the joint venture, highlighting its potential to contribute to Saudi Arabia’s sustainable future while strengthening Wardwizard’s global presence. The partnership is a testament to the growing importance of international collaborations in addressing global challenges and promoting sustainable development. As the project progresses, it is expected to set a benchmark for future initiatives in the electric mobility sector.
