Ward Wizard Solutions India Pvt. Ltd, a technology and health-oriented company is currently in the space of electric bikes and are promoting the new innovative, eco-friendly mode of transport in India.
They are launching their electric bikes under the brand name “Joy e-bikes” at Franchise India Show 2018. Joy e-bikes are ARAI certified meaning they are safe for health. They plan to open 15 stores by FY 2019-20 involving an investment of about INR 10 cr.
Due to the rising concerns regarding environmental pollution, many governments across the world have implemented several regulations and policies to reduce vehicle emission during the last few years.
According to statistics from ‘Make in India’, India is the seventh largest producer of automobiles in the world. India electric two-wheeler market is forecast to grow at a CAGR of more than 23%, during FY2018–FY2023.
The market for Electric Bicycles lies primarily in the urban areas as of now.
This is a Syndicate News-Feed