Wardwizard Innovations & Mobility Limited, founded in 2016 by Yatin Gupte, is a publicly traded Indian company that specialises in the manufacture of electric vehicles.
Wardwizard Innovations & Mobility Limited has inked a strategic Memorandum of Understanding (MoU) with C4V, a renowned lithium-ion battery technology firm headquartered in New York.
This transformative partnership is set to focus on the development of advanced lithium-ion battery cells, meticulously tailored to meet the performance demands of Wardwizard’s cutting-edge electric vehicle range, which includes high-speed scooters and three-wheelers.
By harnessing C4V’s exceptional expertise in battery cell design and optimisation, the collaboration aims to deliver robust Lithium Iron Phosphate (LFP) batteries that promise remarkable stability, even in India’s challenging climatic conditions. These batteries will also feature impressive charging cycles and superior performance metrics.
The MoU charts a comprehensive roadmap, encompassing the definition of product specifications, the creation of prototypes, and extensive performance testing. Both organisations have also pledged a steadfast commitment to the localisation of battery manufacturing within India, resonating with the government’s ambitious ‘Make in India’ initiative.
This localisation endeavour is expected to significantly lower production costs, bolster manufacturing efficiencies, and catalyse the growth of India’s burgeoning electric vehicle ecosystem.
Yatin Gupte, Chairman and Managing Director of Wardwizard Innovations & Mobility Ltd, expressed his enthusiasm, stating, “By joining forces with C4V, we aim to pioneer groundbreaking battery technology that will not only elevate the performance of our vehicles but also align with India’s vision for sustainable and eco-friendly mobility.”
Dr. Shailesh Upreti, CEO of C4V, echoed this optimism, saying, “Our partnership with Wardwizard offers a remarkable opportunity to bring our state-of-the-art battery solutions to the Indian market. This collaboration will enable us to establish robust supply agreements while driving innovation and championing the global transition towards sustainable energy solutions.”
At 10:21 AM, Wardwizard Innovations & Mobility Ltd.’s share price was ₹38.49 on the NSE.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in securities market are subject to market risks, read all the related documents carefully before investing.
Published on: Jan 7, 2025, 2:16 PM IST
We're Live on WhatsApp! Join our channel for market insights & updates
Get the link to download the App
