Electric Vehicle (EV) firm WardWizard Innovations and Mobility Ltd. said it has acquired 4 million sqft land along with its Promoters & Promoters’ Group for development of an EV ancillary project in Vadodara.
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This is in accordance with an MoU signed with the Government of Gujarat in December 2021 for an investment of ₹500 crore in this project. “The project aims to provide a solution to localise and strengthen the supply chain of raw materials for EV manufacturing,” the company said in a statement. The development of the EV ancillary cluster will begin from February 2022 in a phased manner.
The ancillary is expected tofoster the growth of the EV industry with the manufacturing of essential components like, electric-motor, chassis, steel parts.It will have units for lithium-ion cell manufacturing, lithium-ion battery assembly, chargers, controllers, R&D centre andproduction for electronic components.Considering the size of the ancillary, it is expected to generate more 6000 jobs in the state.
The land will also be utilised for the production of high-speed electric two-wheelers, electric three-wheelers (passenger segment), and R&D of electric four-wheeler as well as other projects.
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Yatin Gupte, Chairman and Managing Director, WardWizard Innovations & Mobility Ltd., said, “This is a first-of-its-kind initiative that encourages collaboration and holistic development of the EV industry. Through the EV cluster programme, we aim to strengthen the demand-supply chain of raw materials to reduce the dependency on import of essential components and provide cost benefits to the customers for the rapid adoption of electric mobility in the country.” “We have already received a letter of intent from six companies and will be adding more from the national and international markets, where we will be providing them with land free of cost, infrastructure, electricity and manpower,” he said.
EV Ancillary is a unique concept and a solution by WardWizard Innovations and Mobility Ltd., to eliminate the ongoing challenges of raw materials supply for electric vehicle manufacturing in the country.
As per the concept, the manufacturing partners will be invited to set up their production units for developing ancillaries under one roof to manufacture essential components.The company will provide assistance from manufacturing the products to maintaining a supply-chain process. It will be supporting them by providing ultra-modern facilities including land, human resource and other essential resources.