WardWizard Innovations and Mobility Ltd. signed a Memorandum of Understanding (MOU) with the Gujarat government to invest INR 5,000 million. The agreement aims to foster the growth of the electric vehicle industry and meet the government's vision of strengthening green mobility in the state. The signing ceremony of MoU with the Gujarat Government took place as part of Vibrant Gujarat Global Summit 2022 in Gandhinagar in presence of Hon'ble Chief Minister of Gujarat Shri Bhupendrabhai Patel and Mr. Yatin Gupte, Chairman and Managing Director, Wardwizard Innovations and Mobility Limited. Several senior government dignitaries and officials from the company were also present. As part of the agreement, WardWizard would invest INR 5,000 million on research and development of electric 2 & 3 wheelers, setting up the motor assembly at Vadodara's facility, and developing ancillaries to manufacture raw materials. The company will also generate more than 6000 jobs in the state.