8 Feb, 2022
What is EV Ancillary and how will it strengthen the EV industry in India?
EV ancillary is the unique concept to be introduced for the first time in India, by Wardwizard Innovations & Mobility Ltd., the first EV manufacturing company in India to be listed on BSE, which will help the Indian EV industry not to be dependent on raw materials import.
Through the creation of EV Ancillary Cluster, manufacturing partners will be invited to set up their production unit for developing ancillaries under one roof to manufacture essential components like Motor, Battery, Chassis, Steel parts, Chargers, Controllers, etc. Wardwizard will be supporting the industry by providing ultra-modern facilities including land, manpower and other essential resources.
Why India cannot rely on the import of raw materials?
The Indian automobile sector is ranked as the fifth-largest automobile sector in the world, with a goal of being the third-largest by 2030. While trying to attain the goal of a hundred per cent electrification by 2030, the EV industry is facing a number of challenges. One of the major concerning factors is the consistent supply of raw materials required for EV manufacturing. Five main components that are required to manufacture an electric vehicle are chassis, body, battery and thermal dynamics management systems, battery packs, electric motors and power electronics. Since the EV-specific components contribute more than 60% of an EV’s total cost, import of which increases the EV manufacturing cost.
Since India does not possess critical raw materials such as lithium, cobalt and nickel, which are used to make lithium-ion (Li-ion) battery cells, Indian manufacturers currently have to rely heavily on imports of batteries and assemble them into battery packs.
Wardwizard’s revolutionary concept: India’s first-ever EV ancillary cluster
Being one of the leading manufacturers of Electric Vehicles under the brand Joy e-bike, Wardwizard Innovations & Mobility Ltd provides unbeatable green vehicles.
Considering the growth potential India has in the Electric Vehicle segment, Wardwizard provides clean and green alternatives to the existing usage of mobility, aligned with our philosophy of driving a positive change into the mobility of the country.
India’s first ever EV Ancillary Cluster
Wardwizard Electric Vehicle Ancillary Cluster is a unique concept and a solution created by Wardwizard Innovations and Mobility Ltd., to eliminate the ongoing challenges of raw materials supply for electric vehicle manufacturing in the country.
The vision inculcates to invite all those who produce essential EV components and grant them everything they need to maintain supply-chain process consistent, including land, ultra-modern facilities, human resources and other essential benefits.
Electric Vehicle Ancillary will facilitate the growth of the Electric Vehicle industry by reducing the dependency on imports for the supply chain, moving us forward to the goal of being self-reliant.
The constant availability of raw materials at a competitive pricing provided by this model will also bring down the logistic cost and operations. And the partners will further benefit by supplying raw material to other OEMs of the industry.
The development of Ancillary Cluster is intended to start in a phased manner from February 2022 and will focus on manufacturing of most essential components for the Electric Vehicle industry such as:
– Lithium-ion cell manufacturing.
– Lithium-ion battery assembly,
– Joy E-Bike High-Speed Electric 2-Wheeler Assembly Plant
– Joy E-Bike 3 Wheeler Passenger Segment Assembly Plant
– Electric motors, BLDC Hub Motor and Mid Drive Motor
– Chassis and Steel Parts & Steel Subparts
– Chargers and controllers
– R&D, Designing and Production of Electronic Components
– Plant for prospected 4 Wheeler Project
MoU with the Gujarat Government: Facilitating the development of EV Ancillary Cluster in India
Wardwizard Innovations and Mobility Ltd. has signed a Memorandum of Understanding (MOU) with the Gujarat government to create India’s first-ever EV Ancillary Cluster. As part of the agreement, the company will invest INR 500 crore in the research and development of electric 2 and 3 wheelers, by setting up the motor assembly at the Vadodara facility and developing ancillaries to manufacture raw materials. This revolutionary vision also aims to create more than 6000 jobs in the state. The agreement was signed as part of the Vibrant Gujarat Global Summit 2022.
The encouragement to the production of EV parts in India will ensure more stringent quality control and assurance measures. With the quick resolution of quality issues, it is expected to reduce production costs, increase production and adopt a lean supply chain. This will therefore reduce working capital requirements, ultimately helping OEMs to achieve their quantity and quality goals in creating profitable, locally-made EVs not just for the country but for the world.
Join us at the Wardwizard Onlook 2022, as we announce the first ever EV Ancillary Cluster, Global Map for Wardwizard and New Product Launch on 10th February 2022, live on Youtube at 05:00 PM.
References: https://www.thehindu.com/business/Industry/wardwizard-to-start-work-on-ev-ancillary-unit/article38323867.ece
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