OLA’s Peer Multibagger EV Stock Under Rs 50 in Focus as Company Joins Forces with SpeedForce to Boost After-Sales Service and Expand Reach for Joy e-Bike Customers

The stock is up by 12 per cent from its 52-week low of Rs 39.90 per share and gave multibagger returns of 500 per cent in 5 years.

OLA’s Peer multibagger EV Stock - Wardwizard Innovations & Mobility Limited, one of India’s leading electric vehicle manufacturers under the brands 'Joy e-bike' and 'Joy e-rik,' has announced a strategic joint venture with SpeedForce, a leading two-wheeler service chain of India. This collaboration aims to enhance the after-sales experience for Joy e-bike customers and expand access to over 1,000 touchpoints nationwide. With the SpeedForce's extensive network of service canters in more than 350 locations, servicing an average of 150 vehicles per outlet monthly, Joy e-bike anticipates a potential of reaching over 50,000 more customers across the country every month.

Under this venture, SpeedForce will also exclusively retail Joy e-bike models at its outlets, allowing customers to both purchase and service their Joy e-bikes conveniently in one location. This will also expand Joy e-bike's reach into regions where dedicated showrooms are not currently available. This expanded availability will help Wardwizard to reach new customers and strengthen its presence across the country.

SpeedForce, which has a strong background in servicing internal combustion engine (ICE) vehicles, has recently ventured into the EV service segment, further promoting eco-friendly and green mobility. Through this joint venture, SpeedForce will help promote green mobility by supporting Joy e-bike’s commitment to sustainable transportation. Customers will benefit from having their vehicles serviced not only at Joy e-bike showrooms but also at SpeedForce outlets across India, especially in areas where Joy e-bike service stations are not present.

Additionally, SpeedForce outlets will be stocked with Joy e-bike spare parts, lubricants and technical support, ensuring that customers receive end-to-end service and maintenance. This extensive network will be particularly valuable in underserved regions like the Seven Sisters in Northeast India, where Wardwizard's presence has been limited. Leveraging the strong foothold of SpeedForce stronghold in these regions allows Joy e-bike to expand its reach and improve customer satisfaction through convenient service access and high-quality maintenance. This joint effort sets a strong example of industry collaboration to promote eco-friendly practices in India’s mobility sector, marking a step forward for a cleaner, more sustainable future.

About Wardwizard Innovations & Mobility Limited

Wardwizard Innovations & Mobility Limited is one of India’s leading auto manufacturing companies in the Electric Vehicle (EV) segment under the brand name Joy e-bike and Joy e-rik. 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 have a positive impact in the future. Given the current state of the environment, where fuel-powered vehicles account for the vast bulk of carbon emissions, the company is promoting improvement by offering cleaner, greener options that produce no emissions. 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 and aspires to boost this number throughout the country.

The company falls under the BSE Small-Cap Index with a market cap of over Rs 1,100 crore. The stock’s 52-week high of Rs 86.50 and its 52-week low is Rs 39.90. The stock is up by 12 per cent from its 52-week low of Rs 39.90 per share and gave multibagger returns of 500 per cent in 5 years. Investors should keep an eye on this small-cap EV stock.

Disclaimer: The article is for informational purposes only and not investment advice.