Wardwizard Enters Partnership With Gujarat Government for Rs. 2,000 Crore e-Vehicle Hub
Wordwizard Innovation and Mobility Limited, based in Vadodara, has signed a Memorandum of Understanding (MoU) worth INR 2000 crore with the Gujarat government. The company’s objective is to make Vadodara the hub for electric vehicles and expects to create over 6000 new jobs. The MoU also states that the company has purchased 100 acres of land and intends to build auxiliary cluster units for the production of motors, control units, and batteries.
“At present, we have to depend on other countries for all these things to make an e-vehicle, but when these auxiliary units are made, then all these will be made in our country and we can become self-reliant in these things as well,”
Word Wizard MD Yatin Gupte said.
This comprehensive ecosystem is expected to result in the creation of 6000 jobs overall, according to Gupte, who also stated that Wordwizard will provide free land and infrastructure to vendors setting up these ancillary units and these vendors will be able to sell their manufactured products not only on Cipher WordWizard but also in the open market.
“For the lithium-ion battery, we have to depend on countries like China. But according to this MOU, in the next 18 months, we will also set up a plant to make lithium battery cells of one gigahertz,”
Yatin Gupte said.
Having previously invested about INR 650 crore under an MOU worth INR 500 crore, Gupte disclosed that his company has now inked an MOU for INR 2000 crore, which it hopes to surpass.
According to Gupte, Gujarat—especially Vadodara—has emerged as the epicentre for e-vehicles, replacing Tamil Nadu as the state most suited for them.
The MD of Word Wizard stated that his company presently manufactures two- and three-wheelers and plans to manufacture trucks and four-wheelers in the future.
Additionally, he said that conducting business in Gujarat is easy and that he has not come across any other business amenities that are equal to those provided by Vibrant Gujarat.
“In the coming 10 years, I would like to make 50 thousand youths self-reliant through my company,”
he added.