As a part of MoU signed with the Government of Gujarat for Rs 500 cr, WardWizard Innovations and Mobility jointly with its Promoters & Promoters’ Group acquired 4 million square feet of land in Vadodara for the development of electric vehicle (EV) ancillary project. The development of the EV ancillary cluster will begin from February 2022 in a phased manner.
The investment is in accordance with the MoU signed with the Government of Gujarat in December 2021. The project aims to provide a unique solution to localise and strengthen the supply chain of raw materials for EV manufacturing. The ancillary will foster the growth of the EV industry with the manufacturing of essential components like, electric-motor, chassis, steel parts, lithium-ion cell manufacturing unit, lithium-ion battery assembly unit, chargers, controllers, R&D centre, production for electronic components. It is expected to generate additional more 6000 jobs in the state.
The land will also be utilised for the production of high-speed electric two-wheelers, electric three-wheelers (passenger segment), and R&D of electric four-wheeler as well as other future projects.
Speaking on the new development of the company, Yatin Gupte, Chairman & Managing Director, Wardwizard Innovations & Mobility said, “Through the EV cluster program, we aim to strengthen the demand-supply chain of raw materials to reduce the dependency on import of essential components and provide cost benefits to the customers for the rapid adoption of electric mobility in the country. The company has already received a letter of intent from six companies and shall be adding more from the national and international markets, where we will be providing them with free land, infrastructure, electricity & manpower”
As per the concept, the manufacturing partners will be invited to set up their production units for developing ancillaries under one roof to manufacture essential components. WardWizard will provide assistance from manufacturing the products to maintaining a supply-chain process.
EV Ancillary will facilitate the growth of the EV industry by reducing the dependency on imports for the supply chain. It will further benefit from the constant availability of raw materials at competitive pricing and bringing down the logistic cost and operations.