Kerala govt partners with Lord's Mark for EV manufacturing unit
17 Feb 2022
2 Min Read
CW Team
Kerala government undertaking Kerala Automobile Ltd (KAL) has formed a joint venture (JV) with Lord's Mark Industries for electric vehicle (EV) production.
The first production facility of the joint venture will be set up in Kannur with an investment of Rs 20-30 crore.
The factory is likely to begin its operation from December 2022, and subsequently, it also has plans to extend its operations over India by partnering up with original equipment manufacturers (OEMs).
The company revealed that it plans to export to Eastern European and African countries.
Lord's Mark Industries manufactures, established in 1998, produces a wide range of renewable energy and healthcare products.
In October 2020, its subsidiary, Lords Automotive, introduced electric scooters under the brand name Zoom and Zoom Li.
Sachidanand Upadhyay, the founder of Lord's Mark Industries, told the media that the brand aims for a strong native EV ecosystem and help India to become one of the leading global manufacturing hubs for EVs.
Upadhyay said that with this partnership, KAL would be in an improved place to leverage the pan-India distribution network of Mark Industries to develop its market hierarchy and distribution outreach.
KAL manufactures electric three-wheelers for both passenger and cargo segments under the label KERALA.
The firm also manufactures high precision aerospace parts for ISRO Inertial Systems Unit (IISU), Vikram Sarabhai Space Centre (VSSC), and Liquid Propulsion Systems Centre (LPSC) for their space programmes.
P V Saseendran, managing director KAL, said that Kerala has been at the forefront of promoting clean energy initiatives in the transport sector of the country.
He said that through their partnership with Lord's Mark Industries, they would be playing a vital role in accelerating the evolution towards e-mobility and sustainable development of the state.
Also read: Kerala govt to lease 2.35 acres of land for MLCP development
Kerala government undertaking Kerala Automobile Ltd (KAL) has formed a joint venture (JV) with Lord's Mark Industries for electric vehicle (EV) production.
The first production facility of the joint venture will be set up in Kannur with an investment of Rs 20-30 crore.
The factory is likely to begin its operation from December 2022, and subsequently, it also has plans to extend its operations over India by partnering up with original equipment manufacturers (OEMs).
The company revealed that it plans to export to Eastern European and African countries.
Lord's Mark Industries manufactures, established in 1998, produces a wide range of renewable energy and healthcare products.
In October 2020, its subsidiary, Lords Automotive, introduced electric scooters under the brand name Zoom and Zoom Li.
Sachidanand Upadhyay, the founder of Lord's Mark Industries, told the media that the brand aims for a strong native EV ecosystem and help India to become one of the leading global manufacturing hubs for EVs.
Upadhyay said that with this partnership, KAL would be in an improved place to leverage the pan-India distribution network of Mark Industries to develop its market hierarchy and distribution outreach.
KAL manufactures electric three-wheelers for both passenger and cargo segments under the label KERALA.
The firm also manufactures high precision aerospace parts for ISRO Inertial Systems Unit (IISU), Vikram Sarabhai Space Centre (VSSC), and Liquid Propulsion Systems Centre (LPSC) for their space programmes.
P V Saseendran, managing director KAL, said that Kerala has been at the forefront of promoting clean energy initiatives in the transport sector of the country.
He said that through their partnership with Lord's Mark Industries, they would be playing a vital role in accelerating the evolution towards e-mobility and sustainable development of the state.
Image Source
Also read: Kerala govt to lease 2.35 acres of land for MLCP development
Next Story
Bids Open for Underground Coal Blocks in 12th Round
The Ministry of Coal has opened bids for the 12th round of commercial underground coal block auctions. Out of six blocks on offer, two received submissions. A total of 14 bids鈥攕ubmitted both online and offline鈥攚ere received for the Rajgamar Dipside (Deavnara) and Rajgamar Dipside (South of Phulakdih Nala) blocks, both classified as non-coking coal reserves.Eight companies participated in the bidding process. Each of the first six firms submitted two bids, while two others submitted one bid each. The companies in the fray include Godawari Power and Ispat, Dilip Buildcon, TMC Mineral Resourc..
Next Story
Wipro Engineering Acquires Majority Stake in France鈥檚 Lauak
Wipro Infrastructure Engineering (WIN), a subsidiary of Wipro, has entered into a definitive agreement to acquire a majority stake in France鈥慴ased Lauak Group鈥攁 family鈥憃wned aerospace parts manufacturer since 1975. The deal, announced at the Paris Air Show, will form a new entity named Wipro Lauak, signalling a major expansion of Wipro鈥檚 industrial footprint into Europe.Lauak specialises in sheet metal fabrication, machining, welding, piping, and assembly, supplying Tier鈥�1 components for both structural and engine parts to leading global aerospace firms. The acquisition will merge La..
Next Story
ED Raids 37 Locations in Delhi Over Rs鈥�20 Billion Classroom Scam
The Enforcement Directorate (ED) conducted raids at 37 locations across Delhi on 18 June as part of a money laundering investigation centred on the alleged classroom construction scam dating back to the Aam Aadmi Party (AAP) administration. The probe focuses on inflated construction costs and financial irregularities in government school building projects totalling Rs鈥�20 billion during FY鈥�2015鈥�16 to 2022鈥�23. Senior AAP figures, including former ministers Manish Sisodia and Satyendar Jain, face scrutiny. The investigation was launched after the Delhi Anti-corruption Bureau (ACB) fi..
