LML Electric will venture into the electric two-wheeler segment and is claimed to be backed up by large investments
The LML brand does have a prominent space in the history books and it was widely regarded as a promising homegrown two-wheeler manufacturer back in the day. LML, based out of Kanpur, Uttar Pradesh, offered scooters, motorcycles and mopeds along with spares and accessories and it was founded back in 1972.
In 1983, LML began production of 100 cc scooters in technical collaboration with Piaggio Vespa Italy and entered into several licensing agreements. Despite entering the market with a budget of Rs. 10 lakh, LML showcased tremendous growth over time and underwent a number of expansion projects. The LML Select and LML Star are some notable examples.
In an official statement, LML has announced that it is making a strong comeback with an extensive plan to venture into the burgeoning electric two-wheeler space of India. It is currently said to be establishing the groundwork to re-emerge in the market with a different set of opportunities to leverage.
The company further noted that it is backed up by large investments with an investing partner. It is claimed that the management has got the proposal from various technology-based companies to launch LML in the zero-emission segment. Thus, it is all set to introduce a disruptive product as LML Electric is eager to ‘reignite the light of its old establishment with a bang!’
Yogesh Bhatia, MD & CEO, LML Electric spoke of the comeback and 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.”
Over the last couple of years, we have witnessed several startup brands launching electric scooters and more recently, Ola and Simple Energy joined the party. It will be interesting to see what LML Electric has in store and specific details on its upcoming product range have not been announced yet as well as the launch timeframe.