WardWizard’s Joy e-Bikes Sees 40% Growth YoY; Sells Nearly 44,000 EVs In 2022

WardWizard Innovations and Mobility Ltd., the parent company of electric two-wheelers brand, Joy e-Bike, has reported sales of 5400 units in December 2022. Compared to the 3860 electric two-wheelers sold during the same month in 2021, the company saw nearly 40 per cent year-on-year growth last month. Having said that, compared to the 7123 units sold in November 2022, the company’s month-on-month sales fell 24 per cent in December 2022.

At the same time, when we look at the company’s performance for the entire 2022 calendar year, between January and December 2022, Joy e-Bikes sold 43, 914 units. Compared to the 18,963 electric two-wheelers sold in calendar year 2021, the company witnessed over 2X annual growth of 131.6 per cent.

Commenting on the growth and sharing the outlook for the year 2023, Yatin Gupte, Chairman & Managing Director, WardWizard Innovations & Mobility Ltd., said “The calendar year 2022 has been an important year in which the company achieved new sales milestones, entered into new segments and expanded its presence across global markets. Our strong product portfolio and cutting-edge technologies successfully met the aspirations of the buyers, resulting in triple-digit growth in CY 2022 as compared to last year. As the adoption of electric mobility is increasing, we are expecting new opportunities in the industry; overcome previous challenges, and observe strong growth momentum. Bringing more excitement to our customers and expanding our product portfolio, the company is all set to introduce new models in the year 2023 along with developing India’s first EV cluster for holistic growth of the industry.”

As for the company’s performance in Financial Year 2022-23 so far, Joy e-Bikes has also sold 30,493 units in the first three quarters of this fiscal year, logging a growth of nearly 76 per cent. In comparison, during the same April- December period in FY2022, the company sold 17,340 units in India.