Lords Mobility Announces Major EV Manufacturing Expansion Across India

Lords Mobility, the electric vehicle division of Lords Mark Tech Next Private Limited—a subsidiary of the BSE-listed Lord's Mark Industries Limited—has unveiled plans to broaden its electric three-wheeler production and assembly footprint. The company is targeting new facilities across Tamil Nadu, Maharashtra and Odisha to bolster regional manufacturing, cut logistics expenses and boost local employment. These sites are projected to add roughly 18,000 units to the company's annual production capacity, pending successful commissioning. Alongside this expansion, the firm is aiming for 40% revenue growth in FY2026–27, coupled with enhanced EBITDA margins.

This move represents a major milestone in the strategy of Lords Mobility to solidify its national manufacturing footprint and address the rising demand for electric passenger and cargo vehicles. By supplementing its existing Manesar, Haryana operations with a geographically dispersed network, the company intends to serve markets in southern, western and eastern India with greater efficiency. Positioning assembly and production closer to primary consumption hubs will allow Lords Mobility to streamline logistics, shorten transit times, accelerate vehicle delivery and ensure better dealer inventory levels. This decentralized model is also designed to bolster supply-chain resilience, foster regional component sourcing and improve responsiveness to the needs of institutional, fleet and commercial clients.

Capitalizing on India's Growing Electric Three-Wheeler Market

The Indian electric three-wheeler sector maintains a robust growth trajectory, fueled by the rising need for cost-effective commercial transport, last-mile passenger connectivity and urban logistics solutions.

Data from the Federation of Automobile Dealers Associations (FADA) indicates that electric three-wheeler retail registrations hit approximately 8.31 lakh units during FY2025–26, marking a year-on-year increase of nearly 19%. Furthermore, electric models comprised about 61% of all three-wheeler retail registrations throughout calendar year 2025, highlighting the accelerating shift toward electric mobility within the country's commercial transport landscape.

Demand remains strong across both L3 and L5 categories, encompassing passenger carriers, cargo loaders and fleet-focused solutions. With fuel and operational expenses climbing, the push for affordable commercial electric vehicles continues to gain momentum, a trend Lords Mobility intends to capitalize on by scaling its manufacturing and regional product availability.

Strategic Expansion Across Three States

The planned Tamil Nadu site will allow Lords Mobility to tap into the state's mature automotive manufacturing ecosystem, access skilled engineering talent and utilize a robust supplier base, thereby improving its reach into southern India.

In Maharashtra, the company plans to leverage the state's advanced industrial infrastructure, established automotive supply chains and superior logistics connectivity to meet the growing demand across western and central India.

Meanwhile, the proposed Odisha facility is set to strengthen the company's footprint in eastern India, facilitating better access to emerging electric mobility markets and supporting the growth of regional assembly and distribution capabilities. Collectively, these three sites will create a more efficient manufacturing and distribution framework, reducing the reliance on long-distance transport from northern India.

Employment Generation and Regional Economic Development

Beyond simply increasing production capacity, this expansion is set to drive both direct and indirect job creation across all three states. The new facilities will generate roles in vehicle assembly, quality assurance, testing, warehousing, logistics and plant operations. Furthermore, this initiative is expected to provide a boost to regional MSMEs, automotive component suppliers, service providers and related industries.

Lords Mobility plans to prioritize local sourcing, technical skill development and workforce training, thereby contributing to regional industrial growth and the broader electric vehicle ecosystem.

Targeting 40% Revenue Growth in FY2026–27

In tandem with its manufacturing growth, Lords Mobility is targeting a year-on-year revenue increase of approximately 40% for FY2026–27 compared with FY2025–26, while simultaneously working to improve EBITDA margins over the previous financial year.

The company anticipates that its focus on operational efficiency, optimized logistics, supply-chain enhancements, improved capacity utilization and a more robust product mix will drive both revenue and profitability. These regional manufacturing hubs are expected to play a key role in achieving these long-term goals by improving distribution economics, expanding dealer reach and supporting higher sales volumes as the company scales its operations.

Leader's Perspective

Ramesh Kumar Miglani, Managing Director, Lords Mobility, said: "Our expansion strategy goes beyond increasing manufacturing capacity. By bringing assembly operations closer to our customers and dealer network, we aim to strengthen regional supply chains, improve delivery efficiency and make electric mobility more accessible. These proposed facilities will also create opportunities for local employment and industry partnerships, while supporting our vision of building a scalable, operationally efficient and sustainable electric mobility ecosystem across India."

Strengthening India's Electric Mobility Ecosystem

Backed by a nationwide network of more than 200 dealers, Lords Mobility continues to solidify its standing in electric passenger transport, cargo mobility and last-mile logistics.

This expansion will be rolled out in phases, with specific investment requirements, commissioning timelines and operational arrangements to be finalized as the projects advance. The additional 18,000-unit annual capacity represents planned incremental capability rather than currently installed production capacity.

Through regional manufacturing, tighter supply-chain integration, an expanding dealer network and a focus on operational profitability, Lords Mobility aims to strengthen its position in India's evolving electric commercial vehicle industry while contributing to the nation's transition towards sustainable mobility.

About Lords Mobility

Lords Mobility is the electric vehicle brand of Lords Mark Tech Next Private Limited, a subsidiary of BSE-listed Lord's Mark Industries Limited. The company offers electric mobility solutions across L3 and L5 passenger and cargo three-wheelers, serving commercial operators, entrepreneurs, fleet owners and last-mile transportation requirements. With manufacturing operations in Manesar, Haryana, and a nationwide network of more than 200 dealers, Lords Mobility focuses on accessible, efficient and livelihood-oriented electric transportation. The company continues to invest in product development, strategic partnerships, regional manufacturing capabilities and distribution expansion to support India's growing electric mobility ecosystem.