Wardwizard Innovations & Mobility Limited, a leading player in India’s electric vehicle (EV) landscape, is channeling the proceeds from its recently approved ₹48.75 crore rights issue towards ramping up dispatches under its strategic EV partnership with the Philippines. This collaboration, anchored by a monumental $1.29 billion contract with Beulah International Development Corporation, is set to transform public transportation in the Philippines with cutting-edge electric two-wheelers, three-wheelers, and tailor-made four-wheelers.
Key Highlights Of The Rights Issue And Philippines EV Pact
Wardwizard secured board approval for a ₹48.75 crore rights issue, boosting resources to meet growing production and delivery commitments under the Philippines order.
The $1.29 billion Memorandum of Understanding with Beulah International covers multiple EV models designed for diverse Filipino transportation needs.
Recent dispatches include customized electric three-wheelers, including the e-Trike (Driver + 10), already undergoing rigorous testing in the Philippines.
Production capacity of Wardwizard currently ranges between 4-6 lakh two-wheelers and approximately 40,000-50,000 three-wheelers annually.
The partnership aligns with the Philippines’ Public Utility Vehicle Modernization Program (PUVMP), aimed at phasing out old vehicles in favor of sustainable electric alternatives.
Chairman & Managing Director Yatin Gupte emphasized that the rights issue funds will accelerate delivery schedules and product development tailored to the Philippine market.
This strategic initiative strengthens India’s position as a global EV manufacturing hub and showcases Wardwizard’s ability to scale international operations rapidly.
The company continues expanding domestic and global footprint with synergistic collaborations and a focus on eco-friendly, technology-driven mobility solutions.
Background: Partnership Milestones And Market Position
Since signing the MoU with Beulah International, Wardwizard has steadily progressed from prototype development to commercial dispatches for the Philippines market, reinforcing its status as a key exporter of advanced EVs. This partnership exemplifies cross-border electric mobility collaboration aiming to reduce carbon emissions and modernize public transport ecosystems.
The rights issue proceeds injection comes at a pivotal growth phase, enabling Wardwizard to upscale existing manufacturing lines, invest in new technologies, and expedite fleet deployment for the Philippines project. The move targets enhanced market responsiveness amid intensifying global EV demand.
Technological Edge And Product Suite
Wardwizard’s product lineup under the pact includes electric two-wheelers branded ‘Joy e-bike,’ fully configurable electric three-wheelers including the imminent e-Trike, and plans for bespoke commercial four-wheelers. These vehicles combine efficiency, sustainability, and adaptability to meet the differing transport landscapes between India and the Philippines.
The e-Trike, capable of carrying a driver and 10 passengers, is designed for maximum passenger comfort and durability in urban and peri-urban environments. Multiple configurations cater to differing route capacities and cargo needs, reflecting Wardwizard’s customer-centric innovation philosophy.
Outlook: Scaling Up For Electric Mobility Leadership
The Philippines EV program serves as a critical platform for Wardwizard to demonstrate scalable production capabilities and tailor products to international regulatory frameworks. Successful implementation of this high-value order will pave the way for further overseas expansions and reinforce Wardwizard's leadership in the Asia-Pacific EV market.
The rights issue funds are poised to fortify the company’s balance sheet, improve working capital cycles, and fuel future R&D initiatives, aligning with Wardwizard’s strategic vision of holistic mobility solutions encompassing vehicles, batteries, charging infrastructure, and digital fleet management.
Conclusion: Powering The Green Mobility Future With Strategic Capital
Wardwizard Innovations & Mobility’s prudent use of rights issue proceeds to enhance delivery under its landmark Philippines EV partnership highlights a forward-thinking approach combining financial strategy with operational excellence. As the company accelerates shipments and product launches, it emerges as a beacon of India’s electric vehicle ambitions on the global stage, contributing meaningfully to environmental sustainability and transport modernization.
Sources: Wardwizard Innovations & Mobility Ltd. Investor Relations, Economic Times, ScanX Trade, Remunance, AngelOne
