This strategic partnership marks a significant milestone toward advancing battery technology and enhancing the performance of electric vehicles, aligning with India's vision for green mobility.

Under the MoU, Wardwizard Innovations and C4V will work together to define product specifications, develop prototypes, and conduct rigorous testing to ensure superior performance and reliability.

Additionally, the partnership highlights a shared commitment to localizing manufacturing in India, supporting the 'Make in India' initiative while fostering innovation in sustainable energy solutions.

'The collaboration aims to develop advanced battery cells customized to meet the specific performance requirements of Wardwizard Innovations' electric vehicle portfolio, including high-speed scooters and three-wheelers. Leveraging C4V's expertise in high-charging cycle battery pack architecture and cells, insights into the right chemical combinations, and breakthroughs in highly stable LFP (lithium iron phosphate) batteries optimized for India's climatic conditions, the partnership promises to deliver high-performance battery solutions for electric vehicles, stated in the company's press release.

This partnership positions Wardwizard Innovations and C4V as key players in the development of advanced EV batteries, with plans to localize production in India while catering to global markets. By leveraging their expertise and resources, the two companies are poised to accelerate the adoption of electric mobility, contributing to a cleaner and more sustainable future, it added.

Yatin Gupte, chairman & MD, Wardwizard Innovations & Mobility, said, 'This partnership with C4V Holdings LLC is a milestone in our journey to revolutionize the EV ecosystem. By collaborating on cutting-edge battery technology, we aim to deliver innovative and sustainable solutions for our customers while contributing to India's green mobility vision. This MoU reaffirms our commitment to localization and advancing technological capabilities in the EV industry.'

Dr. Shailesh Upreti, CEO, C4V, said, 'We are excited to partner with Wardwizard Innovations to bring our advanced battery technology to India. This collaboration provides C4V with a valuable opportunity to establish supply agreements not only in India but also in other key regions. By leveraging Wardwizard's expertise and market presence, we aim to deliver high-performance battery solutions that drive innovation and growth for both companies while supporting the global transition to sustainable energy.'

Wardwizard Innovations & Mobility is one of the leading manufacturers of electric two-wheelers under the brand 'Joy e-bike' and three-wheelers under the brand 'Joy e-rik' in India. With more than 10 models in its portfolio in both high- and low-speed categories, the company has established a strong presence in more than 400+ cities across India.

The company reported a consolidated net loss of Rs 6.55 crore in Q2 FY25 as compared to a net profit of Rs 2.55 crore recorded in Q2 FY24. Net Sales jumped 18.4% to Rs 58.18 crore in Q2 FY25 from Rs 49.15 crore posted in Q2 FY24.

Shares of Wardwizard Innovations & Mobility tumbled 4.32% to Rs 37.10 on the BSE.

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