Homegrown two-wheeler manufacturer LML has announced to make a return in the Indian two-wheeler market. The brand will enter the Indian electric 2-wheeler market with a “disruptive product”. The popular scooter manufacturer will be called the LML Electric.
The company said that LML Electric is currently working on new product development strategies. LML is currently laying the groundwork to make a comeback in the market, backed by large investments.
Commenting on the same, Yogesh Bhatia, MD & CEO, LML Electric said, “We’re extremely excited to make a significant comeback. We are actively working on the product development strategies in order to introduce a highly innovative product equipped with the best of technology to enable & strengthen the urban mobility space. We would like to empower the upper-middle and urban segments of society with our range of premium products to drive the change.”
Based out of Kanpur, Uttar Pradesh, the LML brand was popularly known for selling reliable scooters, motorcycles and mopeds along with spares and accessories. Founded in 1972, LML joined hands with Piaggio Vespa Italy in 1983 and started producing 100cc scooters. The company sold multiple 2-wheelers such as the Select, Vespa NV3, Supremo, Star, Sensation, and others.
Piaggio took 25.50 percent stake in the LML company. Both made several licence agreements; however, the joint venture ended in 1999. LML did launched multiple 2 wheelers in India including the Adreno, Energy and Freedom, but failed to make a strong impact.
The electric two-wheeler segment is growing at a rapid speed, as multiple brands have entered in this space. Adding to it, several start-ups backed by popular automakers have also announced their electric two-wheelers. LML is likely to launched a premium electric scooter to rival the likes of Bajaj Chetak, TVS iQube, Ather 450X, Ola S1 and the Simple One.
