EV-Penny Stock Below Rs 20 Receives Order from SpeedforcEV for 2,500 Wolf+ Electric Scooters for Nationwide Deployment

The stock’s 52-week high of Rs 75.25 and its 52-week low is Rs 15.08.

Wardwizard Innovations & Mobility Ltd. (WIML), known for its 'Joy e-bike' and 'Joy e-rik' brands, has secured a significant order from SpeedforcEV for 2,500 units of its Wolf+ electric scooter. These vehicles are slated for deployment in fleet and last-mile delivery operations across major Indian cities, aligning with WIML's commitment to advancing clean urban mobility. This order stems from a Memorandum of Understanding (MoU) between SpeedforcEV and Ferry Automotive Pvt. Ltd., where the scooters will be leased and utilized for urban transportation and delivery services, with an initial rollout in Mumbai, Pune, and Ahmedabad, followed by phased expansion.

This collaboration marks another milestone in Wardwizard's expanding fleet portfolio, building upon previous partnerships with XiCon International Ltd. and Optimotion, and further solidifies its strategic efforts to penetrate India's commercial mobility sector. Ferry Automotive, operating its "SCOOTERR" fleet under the leadership of Faraaz Irfan Chapra and CEO Rishab Sharma, is poised for significant expansion. This growing network of partnerships and a robust deployment roadmap are crucial in solidifying Wardwizard's pivotal role in India's transition towards clean and efficient urban transportation.

About the Company

Wardwizard Innovations & Mobility Limited is one of India’s leading auto manufacturing companies in the Electric Vehicle (EV) segment under the brand name Joy e-bike and Joy e-rik. 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+ cities across India and aspires to boost this number throughout the country.

The company has a market cap of Rs 400 crore. The stock’s 52-week high of Rs 75.25 and its 52-week low is Rs 15.08. The stock is up by 8 per cent from its 52-week low of Rs 15.08 per share.  

Disclaimer: The article is for informational purposes only and not investment advice.