Kerala govt partners Lords Automotive for EV manufacturing unit
Lord's Mark Industries has set up a joint venture with the Kerala government undertaking Kerala Automobile Ltd (KAL) for electric vehicle manufacturing. The joint venture's first production facility will come up in Kannur via an investment worth ₹20 to ₹30 crore.
The factory is expected to start its operations from December this year and it also has plans to expand operations across India subsequently by partnering with original equipment manufacturers (OEMs). A statement from the company stated its plans to carry exports to eastern European and African countries.
Incorporated in 1998, Lord's Mark Industries manufactures a wide range of renewable energy and healthcare products. Its subsidiary, Lords Automotive launched its electric scooters in October 2020 under the brand name 'Zoom' and 'Zoom Li'. Sachidanand Upadhyay, founder, Lord's Mark Industries Pvt Ltd said the brand aims for a robust indigenous EV ecosystem and help in positioning India as one of the leading global manufacturing hubs for EVs. “Through this collaboration, KAL will be in an improved position to leverage the pan-India distribution network of Lord's Mark Industries to expand their market scale and distribution outreach," Upadhyay told PTI.
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KAL manufactures electric three-wheelers both for passenger and cargo segments under the brand name KERALA. The company also produces high precision aerospace components for Vikram Sarabhai Space Centre (VSSC), Liquid Propulsion Systems Centre (LPSC) and ISRO Inertial Systems Unit (IISU) for their space programmes. KAL managing director P V Saseendran told PTI that Kerala has been at the forefront of boosting clean energy initiatives in the country's transport sector. “Through our strategic partnership with Lord's Mark Industries, we will be playing a pivotal role in accelerating the shift towards e-mobility and ensuring sustainable development of the state," added Saseendran.