LML Electric is planning to enter the electric scooter segment in India, and it has devised an extensive plan to foray into said market space
Lohia Machines Limited (LML) recently announced that it would re-enter the Indian two-wheeler segment. The company will play its second innings in the electric scooter space, which has recently seen a lot of action and is expected to grow a lot in the near future.
Although LML Electric hasn’t divulged a lot about its upcoming e-scooter, it has provided some details about its plans, which are listed below.
Investment of Rs. 1,000 crore planned
The company has revealed that it is planning to invest around Rs. 1,000 crore over the next three to five years for its EV operations. LML has already begun looking for sites for its upcoming manufacturing facility, and it is actively working on product development strategies.
Plans for over 1,000 dealerships across India
LML is planning to set up over 1,000 dealerships across India, based on market potential and demand. The number might seem a little too optimistic, but considering the rising demand for electric two-wheelers in the Indian market, this could be a smart decision. The wide reach would allow LML to be an extremely accessible brand.
Will offer the latest tech on its e-scooters
The manufacturer hasn’t revealed any technical details about its electric scooter(s) yet. However, Dr. Yogesh Bhatia, MD and CEO of LML Electric, has stated that the company will introduce “highly innovative product equipped with the best of technology to enable and strengthen the urban mobility space”, which makes us believe that LML EVs would have a lot of premium features on offer.
Will take on Ola Electric, Simple Energy, Ather Energy
Ola Electric and Simple Energy recently made headlines thanks to their brilliant new electric scooters. Ather Energy has also announced that it will be introducing a new model, which will be more affordable than its existing scooters. With the arrival of its first e-scooter, LML Electric will be a direct competitor to these brands.
Will likely use nostalgia to attract buyers
Back in the 80s and 90s, LML-Vespa had a lot of iconic scooters in its range, like NV3, Sensation, Star, Select, etc. We expect LML to use nostalgia to its advantage, and offer a retro-style design on its first product. The company could also bring back a few of its older nameplates, which is a strategy employed by a lot of automobile brands these days.