KAL, Lord’s Mark join hands to set up EV plant in Kannur
THIRUVANANTHAPURAM: The Kerala Automobiles Limited and Mumbai-based Lord’s Mark Industries will jointly set up an electric vehicle manufacturing facility in Kannur. KAL managing director P V Saseendran and Lord’s founder Sachidanand Upadhyay signed a memorandum of understanding for the venture — named KAL Lords Automative Vehicles — here on Monday.
The estimated investment for the project is in the Rs 20 crore to Rs 30 crore range. The plant will start commercial production by December this year. Lords Automative, a subsidiary of Lord’s Mark Industries, will have a majority stake, at 74%, and KAL 26%.
