Wardwizard Sends More E-Three-Wheelers to the Philippines Under $1.29B Beulah Partnership

Wardwizard Innovations & Mobility Limited, one of India’s leading electric vehicle manufacturers under the brands ‘Joy e-bike’ and ‘Joy e-rik,’ has taken a major step forward in its USD 1.29 billion partnership with Beulah International Development Corporation.

The company has successfully dispatched four additional customised electric three-wheelers to the Philippines for testing, ensuring their suitability for the local market.

Advancing Sustainable Public Transport in the Philippines

This latest dispatch follows the initial shipment of the e-Trike (Driver + 10) in the third quarter of FY 2024-25, reinforcing Wardwizard’s commitment to revolutionising public transportation in the Philippines with sustainable mobility solutions.

The newly dispatched three-wheelers have been specifically designed to cater to the needs of public and commercial transport.

Variants Designed for Local Market Needs

Wardwizard has shipped four electric three-wheeler models tailored to the unique demands of urban and commercial transport in the Philippines:

• Model 1 (Light Version): Driver + 2 + 3 seating, ideal for urban commuting.
• Model 2 (Heavy Version): Driver + 3 + 3 seating for higher passenger capacity.
• Model 3: Driver + 6 (3+3 facing) configuration for shared mobility.
• Cargo/Loader: Designed to support sustainable logistics solutions.

These vehicles will undergo rigorous testing to ensure compliance with local transportation standards and regulations set by the Philippine government. The goal is to assess their viability in meeting the country’s evolving mobility needs.

Strengthening Indo-Philippines EV Collaboration

This development stems from the Memorandum of Understanding (MoU) signed between Wardwizard and Beulah International Development Corporation, a prominent full-service business integration and EPC firm in the Philippines, backed by RP Connect.

The agreement aims to modernise the country’s public transport system with cutting-edge EV solutions. As part of the collaboration, Wardwizard will supply a comprehensive range of electric two-wheelers, three-wheelers, and specially designed four-wheelers for commercial applications, reinforcing its dedication to sustainable mobility.

Management Outlook

Expressing enthusiasm over the milestone, Mr Yatin Gupte, Chairman & Managing Director, Wardwizard Innovations & Mobility Limited, stated: “We are delighted to take another significant step in our partnership with Beulah International Development Corporation, further contributing to the Philippines’ transition towards sustainable mobility. At Wardwizard, our focus is on delivering innovative, efficient, and market-relevant EV solutions. With these additional vehicles now dispatched for testing, we are making steady progress in fulfilling our commitment under this strategic collaboration.”

Gupte also added that India is at the forefront of shaping the global EV landscape, and we take immense pride in bringing our expertise to the Philippines. Together with Beulah International, we remain dedicated to accelerating green mobility solutions and fostering a cleaner, more connected future.

Stock Performance 

On March 11, 2025, Wardwizard Innovations & Mobility share price traded 2.44% lower at ₹28.84 at 9:53 AM (IST). Wardwizard Innovations & Mobility’s share price reached a 52-week high of ₹75.25, and a 52-week low of ₹22.50. As per BSE, the total traded volume for the stock stood at 12.63 lakh shares with a turnover of ₹3.73 crores.

At the current price, Wardwizard Innovations & Mobility shares are trading at a price-to-earnings (P/E) ratio of 160.22x, based on its trailing 12-month earnings per share (EPS) of ₹0.18, and a price-to-book (P/B) ratio of 7.59, according to exchange data.

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