LML to make a comeback with electric 2 wheelers
13 September 2021
LML, the manufacturer of popular yesteryear two-wheeler brand LML Vespa, is all set for a comeback in the Indian market as an electric 2 wheeler brand, and a potentially disruptive one, as the company says in a press release.
The company says it has an extensive plan on paper and that it is being backed by an investment partner. LML plans to re-enter the market with a different set of opportunities to leverage.
LML, based out of Kanpur, Uttar Pradesh, offered scooters, motorcycles and mopeds along with spares and accessories. Founded in 1972, LML began production of 100 cc scooters in 1983, in technical collaboration with Piaggio Vespa of Italy.
LML achieved tremendous growth over time and underwent a number of expansion projects through licensing and production agreements with foreign manufacturers. But the brand failed to withstand emerging competition in the two-wheeler market.
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.
LML management claims to have received proposals from various technology-based companies to launch LML in the zero-emission segment.
“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 and 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,” Yogesh Bhatia, MD & CEO, LML Electric, said.