Electric vehicle maker Wardwizard Innovations & Mobility Ltd (WIML) on Friday (June 7) said it has secured a big order worth $1.29 billion from Beulah International Development Corporation of the Philippines.
With this, WIML will deliver products from its existing portfolio, including electric two-wheelers, and three-wheelers in the commercial and passenger vehicles segment and develop four-wheelers for commercial vehicles for the Philippines markets.
This order is part of a strategic collaboration, formalised through a memorandum of understanding (MoU), to revolutionise the public transportation system in the Philippines with electric vehicles.
Also Read: Welspun Enterprises settles dispute with Indian Oil Corp, to receive ₹23.67 crore This partnership aims to transform public transport by bringing innovative electric vehicle technology to the Philippines, creating new job opportunities, and supporting the local economy, the company said.
The partnership aligns with the Philippines government’s Public Utility Vehicle Modernization Program (PUVMP), an ambitious initiative led by the Department of Transportation to provide a safer and more systematic daily transportation service by replacing outdated petrol and diesel vehicles with modern electric alternatives.
Through this strategic partnership, Wardwizard Innovations & Mobility and Beulah International will bring innovative electric vehicle technology to the Philippines with the objective of drastically transforming the transportation landscape.
Also Read: Exclusive | Zoho CEO Sridhar Vembu confirms reports of foray into semiconductor fabs WIML is the manufacturer of electric vehicles under the Joy e-bike and Joy e-rik brands in India. Beulah International Development Corporation (BEULAH) backed by RPConnect Group and based in the Philippines, is a leading full-service business integrator specialising in sustainability and renewable energy.
Yatin Gupte, Chairman and Managing Director of Wardwizard Innovations & Mobility, said, "We would like to thank Beulah International and RPConnect for showcasing their trust in our technology and robust product
portfolio."
"This opportunity will allow us to introduce our cutting-edge electric 2W Scooters, and develop 3W e-Trike (D+10), e-Trike (D+3 Passenger), e-Trike (D+5), e-Trike Cargo, Electric Mini Truck (1.5 Ton) and Golf Carts
(6 & 14 seater) for the Philippines market," Gupte said.
Also Read: Wipro gets $500-million contract from top US communication service provider Shares of Wardwizard Innovations & Mobility Ltd ended at ₹52.26, up by ₹0.80, or 1.55%, on the BSE.
