Wardwizard Innovations & Mobility, an Indian electric vehicle manufacturer, has announced plans to expand into the Philippine market through a USD1.29 billion partnership with local firm Beulah International. The move will be financed via a rights issue, with proceeds supporting both supply and development commitments under the agreement.
The company’s first step will be the delivery of 4,500 two- and three-wheel electric vehicles worth USD30.6 million, scheduled for completion by June 2026. Wardwizard will also adapt its existing portfolio and design new electric commercial vehicles suited to local demand, highlighting a broader strategy to capture Southeast Asia’s fast-growing EV market.
The expansion comes amid surging EV adoption in the Philippines, driven by favourable policies and rising demand for cleaner mobility. With the regional market growing by over 35 per cent in 2024, Wardwizard’s entry demonstrates the increasing role of Indian EV manufacturers in cross-border clean transport ventures.