Vadodara-based Wardwizard Innovation and Mobility Limited have inked a significant Memorandum of Understanding (MoU) valued at INR 2000 crore with the Gujarat government. The objective is to position Vadodara as a prominent center for electric vehicles, with plans to generate more than 6000 job opportunities. The MoU involves the acquisition of 100 acres of land to establish auxiliary cluster units dedicated to battery manufacturing, control unit production, and motor manufacturing.
Wardwizard’s Managing Director, Yatin Gupte, highlighted the current dependency on other countries for essential components in electric vehicle production. The establishment of these auxiliary units is expected to make the nation self-reliant in these critical areas. Wardwizard plans to offer free land and infrastructure to vendors establishing these ancillary units, allowing them to sell their products both within the Cipher WordWizard platform and the broader market. This comprehensive ecosystem is anticipated to create a total of 6000 jobs.
Gupte emphasized the dependence on countries like China for lithium-ion batteries and disclosed plans to set up a plant for manufacturing lithium battery cells with a capacity of one gigahertz within the next 18 months. Wardwizard had previously signed an INR 500 crore MOU with the government, invested around INR 650 crore, and has now committed to an INR 2000 crore MOU, expressing optimism that the investment will exceed this figure.
While Tamil Nadu was previously regarded as the ideal state for electric vehicles, Gupte asserted that Gujarat, particularly Vadodara, has now become the hub for electric vehicles. Wardwizard currently manufactures two and three-wheelers, with plans to extend production to four-wheelers and trucks in the future.
Gupte commended the business-friendly environment in Gujarat, citing the ease of doing business and the unparalleled facilities available through Vibrant Gujarat. Looking ahead, he expressed a vision to make 50 thousand youths self-reliant through his company within the next 10 years.
