Lord's Mark Industries and KAL (Govt of Kerala undertaking) sign JV agreement for Electric Vehicles
The manufacturing facility will be set up on a 2 acres’ land at KINFRA Park, Kannur provided by the Government of Kerala. The construction of the manufacturing facility will be operational within 6-8 months.
Lord’s Mark Industries, a diversified group, has announced a joint venture with Kerala state-owned Kerala Automobiles Ltd (KAL) to spearhead the manufacturing of 2-wheelers - electric scooters and bikes, 3-wheelers - passenger and loader.
The strategy behind the partnership focuses on the latest planning for two-wheeler and three-wheeler electric vehicles to be manufactured at the KINFRA Park in Kannur, State of Kerala aiming for distribution across the country and have plans to export in key markets.
To support the initial sustainability and growth of the Joint Venture, the Government may consider giving subsidy to people of Kerala buying the electric cycle and electric vehicle.
Commenting on the collaboration, P. Rajeev, Minister for Industries, Law and Coir, Government of Kerala said "Today marks the beginning of a new era in the realm of sustainable transportation. This partnership between Kerala Automobiles Ltd and Lord’s Mark Industries symbolises our collective commitment to creating a greener and more environmentally conscious future for our country.’
Sachidanand Upadhyay, Founder and MD, Lord’s Mark Industries, expressed ‘’By leveraging our expertise in Electric Vehicles and KAL's excellence in automobile manufacturing, we aim to introduce cutting-edge electric vehicles that will reshape urban mobility and reduce carbon footprint. This alliance with Kerala Automobiles Ltd (KAL) marks a significant milestone for the automotive industry and its pursuit of sustainable mobility solutions."
The manufacturing facility will be set up on a 2 acres’ land at KINFRA Park, Kannur provided by the Government of Kerala. The construction of the manufacturing facility will be operational within 6-8 months. The company plans to roll out the much-awaited Triton Electric Cycle on October 2, 2023 from the KAL facility at Thiruvananthapuram which boasts cutting-edge technical specifications.
Stanley Pulluvilas, Chairman, Kerala Automobiles Ltd (KAL) shared, "By collaborating with a dynamic and innovative partner like Lord's Mark, we aim to drive innovation in electric vehicle manufacturing and contribute to the state's vision of becoming a leader in clean and green transportation.”
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