OLA’s Peer Multibagger EV Stock Under Rs 50 in Focus as Company Dispatches Customized Electric Three-Wheeler to Philippines, Progressing USD 1.29 Billion EV Partnership with Beulah International

The stock is up by 15.1 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 the leading manufacturers of electric vehicles under the brands 'Joy e-bike’ and ‘Joy e-rik’, has successfully developed a customized electric three-wheeler, the e-Trike (Driver + 10), as part of its groundbreaking USD 1.29 billion order from Beulah International Development Corporation. This special vehicle, designed to enhance public transportation in the Philippines, has been dispatched for rigorous testing.

In addition to the e-Trike, Wardwizard will send other electric vehicles from its line up to the Philippines in February 2025 for testing to ensure suitability for the local market. These steps are part of Wardwizard Innovations commitment to supporting the Philippine Government’s Public Utility Vehicle Modernization Program (PUVMP), which aims to replace outdated vehicles with modern electric alternatives.

This development follows the Memorandum of Understanding (MoU) signed between Wardwizard Innovations and Beulah International Development Corporation, a prominent full service business integration and EPC firm in the Philippines backed by RP Connect. This strategic collaboration aims to transform the Philippines' public transportation infrastructure by introducing advanced electric vehicles. Under this partnership, Wardwizard will supply electric two-wheelers, three-wheelers, and specially developed four-wheelers in the commercial vehicle segment002E

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 15.1 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.