Enclosed herewith Press Release dated 23.08.2025 of Wardwizard Innovation And Mobility Limited.
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Wardwizard Innovations & Mobility has partnered with Battery Smart, India's largest battery-swapping network, to bring swappable battery technology to its Joy e-bike electric two-wheelers. Under a 'battery-as-a-service' model, customers can buy Joy e-bikes without the battery, cutting vehicle costs by 20-30%, and rent swappable batteries on a pay-as-you-use basis. The partnership initially covers Joy e-bike models Globe and Gen Next, with rollout starting January 2026 in phases. Battery Smart brings an existing network of 1,500+ swap stations across 50+ cities including Mumbai, Delhi, and Bengaluru, and has completed over 75 million battery swaps. Dealers and distributors also gain an opportunity to host swapping stations, creating a new revenue stream.
This partnership could make Wardwizard's electric two-wheelers more affordable and practical for buyers, potentially boosting sales volumes and market reach. For shareholders, it signals a strategic move to address key EV adoption barriers (cost and range anxiety), though actual financial benefits will depend on execution of the phased rollout from January 2026.