LML hasn’t shared any details of the upcoming electric scooter or revealed any specific launch timeline
Iconic yesteryear two-wheeler brand LML has announced its comeback to the Indian two-wheeler market. The company is set to start its second innings in the Indian auto market by venturing into the electric vehicle (EV) space. This development was confirmed by a media release shared by the company.
LML has confirmed it will enter the Indian electric 2-wheeler market with an e-scooter which is said to be a “disruptive product”. The upcoming electric scooter will be called LML Electric. The company has revealed that it has devised an extensive plan to foray into the electric two-wheeler segment and is currently laying the groundwork to reappear in the market.
LML Electric Scooter
No details of this extensive plan or the upcoming product have been shared by LML yet. The management of the company has received proposals from various technology companies to introduce an LML EV in the market. The brand is being backed by an unnamed investment partner. LML has stated that it plans to invest approximately Rs 1,000 crore over the next 3-5 years.
While LML has refrained from revealing any specific detail, it has revealed that the upcoming e-scooter will be equipped with cutting-edge tech and will be targeted at the upper-middle and urban segments of society. The Kanpur-based company is currently scouting for sites in Madhya Pradesh and Haryana in order to set up a manufacturing plant. LML plans to open around 1,000 dealerships across the country depending on demand and market potential.
Legacy of LML
First launched in 1972, Lohia Machinery Limited, commonly referred to as LML, offered scooters, motorcycles and mopeds as well as spares and accessories in the Indian market. Later in 1983, it joined hands with Italian two-wheeler manufacturer Piaggio Vespa to start joint production of 100cc scooters and entered into several licensing agreements.
The company’s portfolio included multiple two-wheelers including Vespa NV3, Supremo, Select, Star, Select, Sensation and others. The partnership between LML and Vespa ended in 1999 after which the brand continued to produce scooters inspired by Italian design.
These include models like Adreno, Energy and Freedom but failed to create a similar impact. The last nail in the coffin was hammered with the launch of automatic scooters such as Honda Activa and TVS Scooty which became very popular. LML faced financial difficulties and eventually shut shop in 2017.
Speaking about launching old scooters in today’s date – Last year, Bajaj Auto rekindled the famous Chetak brand by launching a new electric scooter with the same name. It has been doing well in sales and is pretty much in demand. It is likely that the LML brand name will help company benefit in the EV race. When launched, the new LML Electric will rival a bunch of e-scooters from Bajaj, TVS, Hero MotoCorp, Ather and Ola.
Source: Bike - rushlane.com
