LML plans to foray into two wheeler EV market in India
Indigenous two-wheeler manufacturer Kanpur-based (LML) LML has made preparations to enter India’s EV two-wheeler sector. In view of the increasing demand for electric vehicles in India, the company has announced a return to the Indian automobile sector. The company has received huge investments, with which it looks ready to enter the Indian Electric Vehicle market. LML’s two wheelers have earned a lot of popularity in India, but now it remains to be seen what kind of strategy the company makes to survive in the electric segment.
As per information, the management has received proposals from various technology companies to market LML in the EV market. All set to launch a stellar product, LML is now gearing up to rekindle its old identity with a bang.
Dr. Yogesh Bhatia, MD & CEO, LML Electric said, “We are extremely excited to be back in action. We are working very seriously on product development strategies to introduce the most innovative products with the help of best technology so that the movement of people in the urban population is smooth and successful. We aim to enable the upper middle class and urban population through our premium range of products which will change the way they experience and drive two wheelers.”
Established in the year 1972, LML is India’s most popular two wheeler manufacturer. It achieved success very fast with the new age technology. The company is based in Kanpur, Uttar Pradesh and is currently operating in the segment of motorized two wheeler only. The company manufactures scooters, motorcycles and mopeds as well as their spare parts. Earlier in 1983, the company started manufacturing 100 cc scooters in collaboration with Piaggio Vespa Italy and entered into several licensing agreements with it. The company entered the motor market with a budget of 10 lakhs and thereafter registered a steady growth for many years and also launched several vehicle projects.
