Joy e-bike gets approval for subsidy program 2021-22 by Gujarat Energy Development Agency.
WardWizard Innovations and Mobility Ltd (BSE Code: 538970) – one of the leading manufacturers of electric two-wheelers brand ‘Joy e-bike’ has received approval for student subsidy under the Gujarat Energy Development Agency subsidy program 2021-22.
Four two-wheeler models of Joy e-bike received the nod from GEDA.Under this program, students from Class IX and up to colleges are eligible to get the subsidy of ₹12,000 on the ex-showroom price.
For the Joy e-bike, the subsidy will be available on – Gen Next (Electric scooter), Wolf (Electric scooter), Glob (Electric scooter) and Monster (Electric Motorcycle) models of Joy e-bike.
In an attempt to encourage the adoption of e-vehicles in the state, Chief Minister Shri Vijay Rupani had recently announced the government’s decision to offer subsidies on the purchase of battery-operated two-wheelers and three-wheelers. This scheme applies to students of Class-IX and above; they can receive a subsidy of ₹12,000 on 10,000 electric two-wheelers. Individuals and institutions can also avail of the scheme benefits by receiving a subsidy of ₹48,000 on 5,000 e-rickshaws.
Speaking on the development, Mrs Sheetal Bhalerao, Chief Operating Officer – WardWizard Innovations and Mobility Ltd, said “We are grateful to the Gujarat Energy Development Agency for selecting Joy e-bike models for students’ subsidy scheme. We firmly believe that Electric Vehicles are one of the major solutions towards achieving sustainable development goals. These initiatives and incentives by the government will boost the demand for electric two-wheelers. Such steps encourage us to create a strong portfolio of electric two-wheelers. We take it as our responsibility to make available the best product lineup for our customers that are not only class-leading but also cost-effective.”