Statement from Mr Yatin Gupte, Chairman & Managing Director, Wardwizard Innovations & Mobility Ltd on Union Budget 2025-26
Mr Yatin Gupte, Chairman & Managing Director, Wardwizard Innovations & Mobility Ltd, said, "We welcome the policies stated in Union Budget 2025-26 by the Hon’ble Finance Minister, which gives a strong push towards EV adoption, accelerating the development India’s electric vehicle ecosystem. The reduction in customs duty on lithium and other important raw materials will significantly lower input costs for lithium-ion battery manufacturing, making EVs more affordable to consumers while boosting domestic production. The introduction of a national manufacturing mission for clean tech industries is another commendable move. By strengthening the ecosystem for EV batteries, motors, and controllers, this initiative will accelerate India’s transition to sustainable transportation. The recognition of MSMEs as the ‘2nd engine’ of economic growth in the Union Budget 2025 will boost sectoral confidence. The fiscal policies stated to support MSMEs will have a multiplier effect on various sectors, including accelerating India’s e-mobility revolution. We are confident that the expanded tax bracket will enhance the purchasing power of the middle class, which will positively impact EV industry in India."
About WardWizard Innovations & Mobility Limited
WardWizard Innovations & Mobility Ltd is a leading auto manufacturing company in the EV segment under the brand name Joy E-Bike. Being the first listed entity on BSE in Electric. Vehicle manufacturing, it is mainly focused on the growth potential in the Indian EV segment to provide clean and greener alternatives to the existing usage of mobility, aligned with its philosophy of driving a positive change. Through Joy E-Bikes, the Company has been providing a greener alternative to traditional fuel-driven bikes. It has footprints in more than 55 major cities across India and aspires to boost this number throughout the country.
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