Lord’s Mark and KAL Joint Venture Agreement
Lord’s Mark Industries Limited, a renowned sustainable business group based in Mumbai, has exciting news to share. They have entered into a significant joint venture agreement with Kerala Automobiles Ltd (KAL), a state-owned enterprise in Kerala. The joint venture aims to lead the manufacturing of electric scooters, bikes, and passenger and loader three-wheelers. The momentous event took place in Thiruvananthapuram, Kerala, and was attended by esteemed dignitaries, including P. Rajeev, Hon. Minister for Industries, Law, and Coir, Government of Kerala, and Stanley Pulluvilas, Chairman of Kerala Automobiles Ltd (KAL).
The partnership between Lord’s Mark Industries and KAL is poised to revolutionize the electric vehicle market not only in India but also in other countries. The joint venture will focus on producing cutting-edge two-wheelers and three-wheelers at the KINFRA Park in Kannur, Kerala, with plans for nationwide distribution and export to key international markets. This collaboration marks a significant step forward in advancing the adoption and accessibility of electric vehicles in the region and beyond.
Words by Managements
The collaboration between Kerala Automobiles Ltd (KAL) and Lord’s Mark Industries has been met with enthusiasm and excitement from both parties. P. Rajeev, the Hon. Minister for Industries, Law, and Coir in Kerala, described the partnership as the beginning of a new era in sustainable transportation. He emphasized the collective commitment to creating a greener and more environmentally conscious future for the country.
Sachidanand Upadhyay, Founder and MD of Lord’s Mark Industries, expressed confidence in the venture, stating that by combining their expertise in electric vehicles with KAL’s excellence in automobile manufacturing, they aim to introduce cutting-edge electric vehicles that will reshape urban mobility and reduce carbon footprint. The alliance with KAL marks a significant milestone in the automotive industry’s pursuit of sustainable mobility solutions.
The manufacturing facility will be established on a 2-acre land at KINFRA Park, Kannur, provided by the Government of Kerala. Construction is expected to be operational within 6-8 months. Meanwhile, the companies plan to unveil the Triton Electric Cycle on October 2, 2023, from the KAL facility in Thiruvananthapuram, featuring cutting-edge technical specifications.
Stanley Pulluvilas, Chairman of Kerala Automobiles Ltd (KAL), expressed their excitement in collaborating with a dynamic and innovative partner like Lord’s Mark. The joint venture aims 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, a product of both companies’ expertise, is anticipated to be a game-changer in promoting eco-friendly transportation options and fostering a cleaner environment.
Triton Electric Cycle
The Triton Electric Cycle boasts exceptional strength and loading capacity with its high carbon steel construction. Its powerful 12 Ampere Hours battery sets it apart, providing an unrivaled range of 70-80 kilometers. A 250 Watts hub motor ensures a smooth and powerful ride, making commuting stress-free and environmentally friendly. With its dual disc brake assembly and pedal assist technology, the Triton Electric Cycle promises to revolutionize urban mobility.
To support the initial sustainability and growth of the Joint Venture, the Kerala Government may offer subsidies to encourage the purchase of electric cycles and vehicles in the state.
The electric vehicle market has witnessed phenomenal growth, with two-wheeler electric vehicle sales experiencing a staggering 40-fold increase from 2018 to 2023. With this upward trend, Lord’s Mark Industries and KAL are poised to capitalize on the market’s potential, offering innovative and sustainable electric mobility solutions that align with the nation’s green transportation goals.
About Lord’s Mark Industries
Lord’s Mark Industries has established a reputation for delivering value to all stakeholders and partners, positioning itself as a globally recognized brand in various industries. The company was incorporated in 1998, initially focusing on manufacturing computer continuous stationery and copier paper. Over time, Lord’s Mark Industries expanded its horizons and diversified into other segments, including LED products, Solar Power Solutions & Solar Appliances, Lithium Batteries, Electric Vehicles (2-wheelers and 3-wheelers), Charging Stations, and ventures in diagnostics, Biotech, and Pharmaceuticals. This progressive approach has enabled Lord’s Mark Industries to thrive and become a formidable player in multiple sustainable business domains.