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Lord’s Mark and KAL Joint Venture Agreement
Lord’s Mark Industries Limited, a diversified group known for their sustainable business based in Mumbai, is thrilled to announce a joint venture agreement 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 momentous event took place today at Thiruvananthapuram, Kerala in the presence of respected dignitaries, P. Rajeev, Hon. Minister for Industries, Law and Coir, Government of Kerala; Stanley Pulluvilas, Chairman, Kerala Automobiles Ltd (KAL); Saseendran, Managing Director, Kerala Automobiles Ltd (KAL); Dr. Sunil Waman Korgaonkar, Director – Commercial, KAL – Lords Mark Technology Pvt. Ltd. and Mr. Vidit Tiwari, Director – Technical, KAL – Lords Mark Technology Pvt. Ltd.
The joint venture between Lord’s Mark Industries and KAL is set to revolutionise the electric vehicle market in India and other countries. 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.
Words by Managements
Commenting on the collaboration, P. Rajeev, Hon. 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 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. Meanwhile, 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. The Triton Electric Cycle, which embodies the best of both companies’ expertise, will be a game-changer in promoting eco-friendly transportation options and fostering a cleaner environment.”
Triton Electric Cycle
The Triton Electric Cycle features high carbon steel for exceptional strength and loading capacity, a powerful 12 Ampere Hours battery offering an unrivaled range of 70-80 kilometers, and a 250 Watts hub motor ensuring a smooth and powerful ride. With its dual disc brake assembly and pedal assist technology, the Triton Electric Cycle promises to revolutionise the way people commute, making it easy, stress-free, and environmentally friendly.
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.
The electric vehicle market has experienced remarkable growth in recent years, with a staggering 40 times increase in two-wheeler electric vehicle sales from 2018 to 2023. Lord’s Mark Industries and KAL aim to capitalise on this upward trend by offering innovative and sustainable electric mobility solutions.
About Lord’s Mark Industries
Lord’s Mark Industries has been delivering value to all stakeholders and partners by creating sustainable businesses to become a globally recognized brand in diversified industries. Incorporated in 1998, Lord’s Mark Industries Ltd. started manufacturing computer continuous stationery and copier paper and slowly diversified to other segments viz; LED products, Solar Power Solutions & Solar Appliances, Lithium Batteries, 2 Wheelers and 3 Wheelers Electric Vehicles (2W and 3W), Charging Stations apart from the diagnostics and Biotech/Pharmaceuticals.
Read More:- Electric Three Wheeler Sales Report July 2023
