Kaiser Corporation Limited is pleased to announce that its subsidary Xicon International Limited and WardWizard Innovation and Mobility Limited has entered into MOU.
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Kaiser Corporation's subsidiary, Xicon International Limited, has signed an MoU with WardWizard Innovation and Mobility Limited, a leading EV maker. Under the deal, Xicon will lease 7,500 electric scooters from WardWizard over FY 2025-26 and FY 2026-27. These scooters will then be sub-leased to logistics and last-mile delivery partners in Mumbai, Pune and Ahmedabad. The partnership is expected to bring in a gradual revenue contribution in the range of approximately Rs 300-400 million (as quoted in the filing, subject to a likely typo) for Kaiser Corporation's subsidiary over the leasing term. The move positions the company to tap into India's growing EV logistics ecosystem and supports its push into green mobility.
This is a small but positive development for Kaiser Corporation shareholders, as it opens a new revenue stream tied to the fast-growing EV leasing space. However, the absolute revenue contribution is modest relative to typical corporate scales, so the immediate stock impact is likely to be limited. Investors should watch for execution progress and any follow-up expansion announcements.